Bringing you live news and features since 2006 

Announcement

Lightyear Capital completes acquisition of majority equity stake In Wealth Enhancement Group

RELATED TOPICS​

Private equity firm Lightyear Capital has completed its previously announced acquisition of a majority equity stake in Wealth Enhancement Group, an independent wealth management firm with USD4.7 billion in client assets.

Lightyear has acquired Wealth Hancement Group from Norwest Equity Partners, a Minneapolis-based middle market investment firm. 

A number of employees of Wealth Enhancement Group continue to hold a stake in the firm. The terms of the transaction were not disclosed.

Based in the Greater Minneapolis area, Wealth Enhancement Group was founded in 1997 and has expanded, principally through organic growth, to serve more than 10,000 households in over 40 states. The firm focuses on supporting the retail mass affluent and affluent investors by providing comprehensive expertise and resources that are typically available only to large institutional investors and the ultra-high net worth client.

Mark Vassallo, Managing Partner of Lightyear Capital, says: "We are pleased to have completed our acquisition of a majority equity stake in Wealth Enhancement Group. Registered Investment Advisors are a rapidly growing segment of the wealth management sector, and Wealth Enhancement Group is a strong platform for growth both through its own investment advisors and possible acquisitions. We are excited to work with Jeff and his team as they further grow the business."

Added Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, says: ”Lightyear Capital is an ideal investor for our firm as we continue the next phase of our development. Lightyear has strong relationships and strategic insights that will help us identify and acquire independent financial advisory firms that share our commitment to client-service, understand our values, and can benefit from our expertise and capabilities as they look to grow."

Latest News

US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..

Related Articles

Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Lorraine Sereyjol-Garros, BNP Paribas
Following changes to the French Monetary and Financial Code and of the French market authority AMF’s General Regulation, it is...
Ed Rosenberg, Texas Capital
Texas Capital Bank first opened its doors back in December 1998 and nowadays offers wealth-management services, as well as commercial,...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by