Wealth Enhancement Group, a Minneapolis-based hybrid firm managing more than $55 billion, will acquire Hawkins Wealth Management, an RIA firm managing $574 million based in North Liberty, Iowa, and Naples, Florida.
Financial terms of the acquisition weren't disclosed.
The transaction is expected to close June 30, after which the practice will do business as the Hawkins Team at Wealth Enhancement Group. This will be the firm's sixth acquisition in 2022, Wealth Enhancement said in a press release Thursday.
This latest partnership brings Wealth Enhancement Group's total client assets to more than $55.5 billion.
The acquisition of Hawkins Wealth, which was founded by Tim Hawkins in November 2012, will bring a team of six financial advisers and seven support staff to Wealth Enhancement Group and enhance its Midwest presence.
Jeff Dekko, chief executive officer of Wealth Enhancement Group, said, "Tim and Managing Partner Aaron Robertson have built a well-respected firm supporting the financial planning, tax efficiency and retirement distribution planning needs of individuals during times of transitioning wealth."
Wealth Enhancement Group’s brokerage business is affiliated with LPL Financial.
The latest arrivals, including a 10-advisor ensemble from Ameriprise, bolster the firm's independent contractor and employee advisor channels.
The firm has also appointed Mike Downing and Sean Brennan as co-presidents to its US operations as it looks to proceed with an ambitious five-year growth plan.
Meanwhile, Kestra partner Coastline Wealth Management passes a milestone in its geographic expansion with a former Ameriprise team in New York.
New research also reveals that one third of HSA holders withdrew more than they put in.
Blue Anchor Capital Management and Pickett also purchased "highly aggressive and volatile" securities, according to the order.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
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