Wealth Enhancement Group is acquiring SVA Financial Group, the wealth management and trust services entities of the SVA Companies, a family of professional services companies. SVA Financial Group has 22 financial advisers who collectively oversee USD3.2 billion in client assets.
SVA Financial Group, which is comprised of SVA Wealth Management LLC and SVA Trust Company LLC, offers wealth management, trust and tax planning services to high-net-worth individuals and families, along with investment and 401(k) plan services to small businesses.
Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, says: “We are proud to welcome the professionals of SVA Financial Group to the Wealth Enhancement Group family. This partnership positions our firm for continued growth and leadership in providing financial planning and wealth management services, and the addition of a trust company deepens our ability to comprehensively serve high-net-worth individuals and families nationwide.
“We look forward to adding the talented individuals from SVA Financial Group to our Roundtable™ team of specialists, as their profound experience in serving the high-net-worth market will prove invaluable to supporting continued growth for our clients and our firm alike. Their advisors share similar values to ours, combined with a shared passion for delivering an exceptional service experience. We look forward to seamlessly welcoming the financial advisors who are joining our organisation and enabling them to further elevate the client experience they deliver while supporting their professional success by leveraging our industry-leading resources, platforms and technology-enabled tools.”
The SVA Wealth Management transaction is set to close on 31 December, 2020. The acquisition of SVA Trust Company, a company within SVA Financial Group, will officially close in Q1 2021, subject to regulatory approval. The acquisition of SVA Financial Group does not affect the SVA Companies’ other business affiliates.
John Baltes, Chief Executive Officer and Principal of SVA, says: “SVA is proud to have fulfilled the wealth management and trust needs of our clients for 25 years. We expect that joining Wealth Enhancement Group will only help serve the people we have cared so much about with greater efficiency and a heightened experience. We look forward to hitting the ground running with this highly successful organisation that continues to scale its capabilities with each passing year.”
Financial terms of the transaction have not been disclosed. Based on each firm’s current assets, Wealth Enhancement Group is expected to end 2020 with more than USD25 billion in client assets.