Minnesota-based Wealth Enhancement Group has forayed into New Jersey with the acquisition of AEPG Wealth Strategies.
The companies did not reveal the value of the deal.
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By GlobalDataAEPG offers a range of services including investment management, tax strategies, and retirement planning for individuals and families.
It also advises medical professionals and designs employee benefits packages for manufacturers.
The firm’s staff headcount is 27. It tends to more than 600 customers.
The takeover adds over $1bn in assets to Wealth Enhancement Group’s portfolio.
The deal is expected to be wrapped up on 1 October 2019.
As part of the deal, the AEPG team will become pension and group employee benefits specialists on the Wealth Enhancement Group Roundtable.
AEPG CEO and founder Steven Kaye will join Wealth Enhancement Group as senior vice president and managing director.
Wealth Enhancement Group CEO Jeff Dekko said: “AEPG’s exceptional track record for client service with individuals, families and business owners is a testament to their team’s ability to bring substantial value to the clients they support.
“Moreover, AEPG’s retirement plan and employee benefits services deepens the expertise we provide to business owners via our Roundtable team of specialists and advisers.”
Other recent acquisitions by Wealth Enhancement Group
Last month, the firm announced the purchase of Planning Solutions Group.
Earlier this year, Wealth Enhancement Group signed agreements to buy Wiley Group and Summit Planning Group.
