Wealth Enhancement Group Acquires Serafini Financial Group, a Hybrid RIA Based in Maryland with $853 Million in Client Assets

MINNEAPOLIS, Aug 5, 2021 /PRNewswire/ -- Wealth Enhancement Group, an independent wealth management firm, today announced its acquisition of Serafini Financial Group, a Hybrid RIA based in Hagerstown, Md. with 12 total employees, four financial advisors and $853 million in total client assets. Upon the closing of the acquisition, Wealth Enhancement Group's total client assets now exceed $39 billion.*

The transaction is Wealth Enhancement Group's ninth acquisition in 2021. Since June 1, the firm has added 38 financial advisors and more than $6.79 billion in assets to its platform via acquisitions.

Founded by Andrew A. Serafini in 1990, Serafini Financial Group further bolsters Wealth Enhancement Group's presence in the Mid-Atlantic states. Upon the transaction's closing on August 1, Mr. Serafini will practice under the Wealth Enhancement Group brand, serving clients as Senior Vice President, Financial Advisor within the firm.

Mr. Serafini and his colleagues Douglas Nigh and Nathanael Hanft bring over 75 years of collective experience to Wealth Enhancement Group, specializing in helping clients simplify the complexities of their financial lives through faith-based financial planning. Serafini Financial Group's clients typically include pre-retirees and retirees across the tri-state Maryland-Virginia-Pennsylvania region.

Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, "The Baltimore-Washington D.C. region presents Wealth Enhancement Group with incredible opportunities for continued growth, and bringing Serafini Financial Group on board will enable us to provide even more robust service to clients in this area. For more than 30 years, Andrew Serafini and his team have built an excellent reputation for client-centric holistic planning, which perfectly fits our approach to wealth management. I am very pleased to welcome Andrew and his entire team to our firm, and we look forward to putting our resources, technology and scale to work to help them meet and exceed their business goals."

Jim Cahn, Wealth Enhancement Group's Chief Investments & Business Development Officer, said, "We are excited to welcome these proven financial professionals to our team. Andrew, Doug, Nathanael and their colleagues provide outstanding, personalized service, and we look forward to helping them continue to thrive and deliver outstanding results for their clients as part of our team."

As part of the transaction, the Serafini Financial Group has also affiliated with LPL Financial for the brokerage-based portion of its book of business.

Mr. Serafini said, "As we look ahead to the future of our business, we could not be more pleased to be part of Wealth Enhancement Group, and to be able to partner with them as we walk our clients through the most important and complicated issues in their financial lives. We know that Jeff Dekko, Jim Cahn and the entire organization share our commitment to building robust, multi-generational relationships with clients and their families by enabling them to achieve their financial goals. The additional resources we will now have access to as part of Wealth Enhancement Group will position all of us for years of continued success in delivering much-needed financial planning services to our valued clients."

Financial terms of the transaction were not disclosed.

About Wealth Enhancement Group
Wealth Enhancement Group is a Greater Minneapolis-based independent wealth management firm offering comprehensive and customized financial planning and investment management services. Founded in 1997, Wealth Enhancement Group serves clients nationwide. Wealth Enhancement Group specializes in providing retail clients with the team-based knowledge and resources they need to simplify their financial life. For more information, please visit www.wealthenhancement.com.

Advisory services offered through Wealth Enhancement Advisory Services, LLC (WEAS), a registered investment advisor. Certain, but not all, investment advisor representatives (IARs) of WEAS are also registered representatives of and offer securities through LPL Financial, Member FINRA/SIPC. Wealth Enhancement Group and Wealth Enhancement Advisory Services are separate entities from LPL Financial. Wealth Enhancement Group is a registered trademark of Wealth Enhancement Group, LLC.

Wealth Enhancement Group and its Registered Investment Advisor, Wealth Enhancement Advisory Services, had $33.9 billion in client brokerage and advisory assets as of 6/30/2021. Serafini Financial Group had $853 million in client assets as of 6/3/2021. With the closing of previously announced transactions on 7/1/2021 and the acquisition of Serafini Financial Group, Wealth Enhancement Group has $39.1 billion in client brokerage, advisory and trust assets as of 8/1/2021.

Media Contacts
Joseph Kuo / Chris Clemens
Haven Tower Group
424 317 4851 or 424 317 4854
[email protected] or [email protected]

SOURCE Wealth Enhancement Group