Wealth Enhancement Group Announces the Addition of The Financial Advisory Group, LLC, an Independent RIA with Over $1.22 Billion in Client Assets

This partnership marks Wealth Enhancement Group's fifth acquisition of the year and brings the firm's total client assets to more than $81.5 billion.

MINNEAPOLIS, May 29, 2024 /PRNewswire/ -- Wealth Enhancement Group, a national independent wealth management firm with over $81.5 billion in client assets, announced that it will join forces with The Financial Advisory Group, LLC, an independent RIA in Houston, Texas. The team of seven financial advisors and 14 support team members manages over $1.22 billion in client assets and is led by founder, Richard J. Alphonso, J.D., CPA/PFS, M.S.T., AEP.

Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, "We are pleased to announce the addition of Richard Alphonso and The Financial Advisory Group team to Wealth Enhancement Group. The firm's dedication to delivering a high-quality client experience and customized financial services aligns with our firm's goals."

Founded in 1997, The Financial Advisory Group's mission has been to help clients achieve and maintain financial independence, unaffected by the unexpected. The firm provides comprehensive financial advice to their clients by adding tax planning and preparation with traditional investment management, family office services, and financial planning services.

Over the years, the firm has established deep experience working with specific niches including oral surgeons, doctors, attorneys, and business owners. The team also serves family office clients in a comprehensive manner.

Richard Alphonso of The Financial Advisory Group shared, "After a 32-year career in this profession, this is the opportunity of a lifetime to continue delivering wealth management services to the next generation. This partnership will allow us to enhance our clients' experience, shift responsibilities that don't contribute to the overall client experience, and provide professional opportunities to the next generation of professionals who serve our clients."

Jim Cahn, Chief Strategy Officer of Wealth Enhancement Group, said, "We are pleased to welcome The Financial Advisory Group to our firm. Their dedication to providing comprehensive financial planning services has established them as a trusted partner to their clients, and we are excited to work with them for years to come."

The addition of The Financial Advisory Group marks Wealth Enhancement Group's third location in Texas.

About Wealth Enhancement Group
Wealth Enhancement Group is an independent wealth management firm with an endless passion for enriching the lives of our clients. We continually seek to perfect our craft of personalized financial planning with our team-based Roundtable™ and UniFi processes that go far beyond the standard approach. We proudly provide tailored financial plans and investment management services to serve the unique needs of over 61,000 households from our 115 offices - and growing - nationwide. Since 1997, Wealth Enhancement Group has tirelessly raised the standard of wealth management with specialized knowledge and more attentive service that helps every client craft their future. For more information, please visit www.wealthenhancement.com.

Advisory services offered through Wealth Enhancement Advisory Services, LLC (WEAS), a registered investment advisor. Certain investment advisor representatives of WEAS are also registered representatives of and offer securities through LPL Financial, member FINRA/SIPC. Wealth Enhancement Group® and WEAS are separate entities from LPL. 

Wealth Enhancement Group and its Registered Investment Advisor, Wealth Enhancement Advisory Services, had $80.3 billion in client assets, including $4 billion of brokerage assets held at LPL Financial, as of April 30, 2024. The Financial Advisory Group, LLC, had approximately $1.22 billion in client assets as of December 31, 2023. With the addition of previously announced acquisitions and the addition of The Financial Advisory Group, LLC assets under management, Wealth Enhancement Group has more than $81.5 billion in client, advisory, trust, and brokerage assets.

Media Contacts
Marianne Gebhardt
Integrated Marketing Communications Manager
[email protected]   

Prosek Partners, on behalf of Wealth Enhancement Group
[email protected]

SOURCE Wealth Enhancement Group