Wealth Enhancement has added another firm to its growing network, marking its third in a little over a week.
The RIA has acquired the Wealth Services Division of First International Bank & Trust headquartered in Watford City, North Dakota, giving the firm its first location in the state and adding $581 million to its $107.5 billion AUM.
"Trust services is a critical component of being a true family office, and we are excited to continue strengthening our capabilities for our largest multi-generational family relationships. This acquisition marks our first location in North Dakota, expanding our presence to 34 states nationwide,” said Jim Cahn, chief strategy officer of Wealth Enhancement.
It was only last week that Wealth Enhancement announced the addition of $516 million AUM Dallas firm XO Wealth Management and also Cleveland based $4.3 billion AUM Marcum Wealth.
The latest expansion is a team that offers personal trust, estate planning, and asset management services including mineral management, investment management, and farmland management. It has clients in North Dakota, Arizona, Minnesota, South Dakota and beyond.
The additions to Wealth Enhancement’s nationwide footprint provide both geographical and capability expansion.
The fast-growing firm announced last year that it will split from LPL Financial as its broker-dealer, ending a 17-year relationship this coming June.
“We have appreciated their partnership over the years and are working in close cooperation to smoothly transition the approximately 10 percent of our clients’ assets affiliated with LPL to other custodians and partners,” a spokesperson wrote in an email to InvestmentNews.
LPL has made news itself this week by announcing its acquisition of Commonwealth Financial Network in a $2.7 billion all-cash deal.
Integrated Partners is adding a mother-son tandem to its network in Missouri as Kestra onboards a father-son advisor duo from UBS.
Futures indicate stocks will build on Tuesday's rally.
Cost of living still tops concerns about negative impacts on personal finances
Financial advisors remain vital allies even as DIY investing grows
A trade deal would mean significant cut in tariffs but 'it wont be zero'.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
