Wealth Enhancement Group said it has closed on a deal to buy Ginsburg Financial Advisors, an Oakland, Calif.–based registered investment advisor with more than $237 million in client assets. The announcement comes just two weeks after WEG acquired BTR Capital Management, a $1 billion RIA also based in Oakland.
Ginsburg is the 13th acquisition WEG has announced this year and the fourth in Northern California—a key market for the rapidly growing RIA "integrator."
Founded in 1981 and led by President Larry Ginsburg, the incoming firm specializes in serving high-net-worth individuals, business owners, retirees and individuals who have lost a partner.
Similar cultures and good references drew Ginsburg to WEG, he said. “Trusted professional colleagues” from four practices that have successfully integrated with the firm over the last two years—Carroll Financial Associates in North Carolina and Titus Wealth Management, Walnut Creek Wealth Management and Napa Valley Wealth Management in California—“encouraged” him to see the value in the added scale and centralized support.
“We are thrilled that Ginsburg Financial Advisors chose to join forces with Wealth Enhancement Group,” said WEG Chief Investments and Business Development Officer Jim Cahn. “Our centralized service model will help the team continue to provide its clients with the best service possible, and our wealth management and financial planning offerings will support their continued growth.”
Founded in 1997, Minnesota-based WEG offers financial planning and investment management advice through its RIA, Wealth Enhancement Advisory Services, while some of the firm’s investment advisor representatives are also registered representatives of, and offer securities through, LPL Financial.
Including Ginsburg and other fourth quarter acquisitions, WEG now oversees around $55.4 billion in client, advisory, trust and brokerage assets, serving more than 45,500 households through more than 75 offices around the country.