Wealth Enhancement Group introduced the acquisition of BTR Capital Administration, establishing a ninth workplace in Northern California and bringing the quickly rising registered funding advisor to greater than $55.2 billion in consumer property.
Primarily based in Oakland, Calif., BTR’s workforce of 9 advisors and 5 assist workers are led by CEO John Stratton and oversee greater than $1 billion in consumer property for high-net-worth people and households, foundations and retirement plans. The partnership represents a key regional marketplace for WEG, because it continues to develop its nationwide footprint.
“We’re thrilled to hitch forces with BTR and provides them entry to Wealth Enhancement Group’s highly effective assets, capabilities and sturdy progress packages,” WEG Chief Investments and Enterprise Improvement Officer Jim Cahn stated in an announcement welcoming the workforce.
“As we thought-about the suitable companion to assist us proceed to serve our shoppers in the easiest method, Wealth Enhancement Group was clearly the suitable agency for our shoppers and workforce,” stated Stratton. “We’re extraordinarily happy to be a part of one of many fastest-growing RIAs within the nation.”
Based in 1997, Minneapolis-based WEG serves tens of 1000’s of households nationwide and has grown quickly by means of acquisition lately. The agency will proceed its energetic M&A technique with the objective of “accelerating natural progress by means of institutionalized consumer acquisition and driving effectivity by means of progressive makes use of of know-how,” in response to the announcement.
BTR is the twelfth acquisition WEG has introduced in 2022. In all of 2021, the RIA made 16 acquisitions.
Recommendation is obtainable by means of its RIA, Wealth Enhancement Advisory Providers, whereas a few of WEG’s funding advisor representatives are additionally registered representatives of and supply securities by means of LPL Monetary, the place a bit of greater than 7% of WEG’s whole property ($4 billion) are held in brokerage accounts.