Wealth Enhancement Group, a Minneapolis-based firm overseeing $57.9 billion in client assets, has acquired BFS Wealth Management a hybrid registered investment adviser overseeing $523 million based Iselin, New Jersey.
BFS was founded in 2005. A team of three advisers and six support staff, led by John B. Burke, will be making the move. Terms of the acquisition were not disclosed.
BFS will be Wealth Enhancement Group's 12th office in the tristate region of New Jersey, New York and Connecticut.
Earlier this month, Wealth Enhancement Group acquired a $237 million RIA, Ginsburg Financial Advisors, in Oakland, California. And in September, it announced deals for Bohmer Kilcoyne Wealth Management, a Cincinnati-based hybrid managing $677 million; Sadoff Wealth Management, a $1.6 billion Milwaukee RIA; and Pinnacle Private Wealth, a $663 million hybrid in Burlington, Massachusetts.
Last week's layoffs totaled at least 130 Cetera employees, according to a senior industry executive.
Four of the Magnificent Seven will report this week.
Easing anxiety has seen the haven asset slide from record high.
Uncertainty remains challenging for Treasuries traders.
Move will raise concerns of inflationary impact of tariffs.
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.
