Wealth Enhancement Group, a Minneapolis-based wealth management firm with more than $57.7 billion in total client assets, today announced the acquisition of Scroggins Wealth Management, an independent registered investment advisor managing more than $370 million in client assets through offices in New Lenox, Ill., Naples, Fla. and Fort Myers, Fla.
Established in 1998 and led by Michael Scroggins, the incoming firm provides wealth management services to clients through a team of four advisors and six support staff members, with an emphasis on tax planning and an emphasis on virtual client meetings alongside in-person services.
“We strongly believe that clients today need and want ways to interact with their advisors both in-person and digitally,” said WEG Chief Investments & Business Development Officer Jim Cahn.
“Even the designations the team at Scroggins has—such as CFP, CPA, RICP, CPFA— demonstrate how much they value specialization, which is exactly what the Roundtable offers,” he added, referring to WEG's team of experts and professionals in niche areas of wealth management.
“[T]he robust growth programs and expertise we have through the Roundtable team of specialists at Wealth Enhancement Group is an exciting expansion of advice and resources we can bring to our clients,” Scroggins said.
The acquisition represents the 11th completed by WEG this year, as the firm continues to pursue an aggressive inorganic strategy alongside organic growth initiatives as it endeavors to establish itself as a dominant national player.
Founded in 1997, Wealth Enhancement Group offers customized financial planning and investment management services. Advice is offered through its RIA, Wealth Enhancement Advisory Services; however, some of the firm’s investment advisor representatives are also registered representatives of and offer securities through LPL Financial.
At the end of August this year, WEG and WEAS had $54.4 billion in client assets, including $4 billion in brokerage assets. With the addition of previously announced acquisitions and the acquisition of Scroggins Wealth Management, WEG now claims more than $57.7 billion in client, advisory, trust and brokerage assets, serving more than 45,500 households from 75 offices around the country.