Bringing you live news and features since 2006 

Wealth Enhancement Group acquires Hoover Financial Advisors

RELATED TOPICS​

Wealth Enhancement Group, an independent wealth management firm, today announced that it has acquired Hoover Financial Advisors (HFA), an independent hybrid registered investment adviser (RIA) based in Malvern, Pa. that has USD1.46 billion in total client assets. Upon closing of the transaction, Wealth Enhancement Group’s total client assets are expected to exceed USD34.6 billion.

Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, says, “We are thrilled to welcome Hoover Financial Advisors to our platform. Pete Hoover and the team at HFA have built an impressive firm with a strong track record for growth. HFA’s holistic approach to addressing clients’ long-term planning needs – with a particular focus on financial planning – serves as a powerful example of the right way to foster meaningful, lifelong client relationships. We look forward to working with the talented team from HFA to accelerate their growth by leveraging our centralised wealth management, back office and technology platforms.

“We are also pleased to enjoy the continued, enthusiastic support of our capital partner, TA Associates, as we seek to accelerate the acquisition-focused element of our overall growth strategy. With consolidation continuing across the RIA sector, TA’s partnership and commitment will be powerful assets in positioning Wealth Enhancement Group to lead and shape the landscape of our industry as we continue to establish ourselves as a national wealth management and financial planning brand.”
 
Launched in 2005 by Founder and Chief Executive Officer Peter K Hoover, CFP, HFA provides comprehensive financial planning services, investment management and insurance solutions to retirees, pre-retirees and other clients. Now partnering with President William B Mullin, CFP, Hoover and the HFA team specialise in establishing strategic and executable financial plans for clients, enabling them to transition smoothly from their working years to a comfortable and sustainable retirement. The team also provides education planning, income tax strategy planning, cash flow management, group benefits and tax preparation services.
 
Upon closing of the transaction, the entire HFA team of 26 individuals, including nine financial advisors and four seasonal tax consultants, will join Wealth Enhancement Group, building upon the firm’s long-term approach of building scale in key local markets through strategic acquisitions that support national growth.
 
Hoover says: “We are excited to join such a strong and client-focused organisation as Wealth Enhancement Group. Our team sought a strategic partnership that would expand our services and enable our professionals to spend more time with our growing client base, and – with Wealth Enhancement Group’s robust centralised back office and portfolio management resources – this new relationship puts us in the perfect position to do just that. This transaction allows us to move forward in a business-as-usual manner, while significantly enhancing our technological capabilities and expanding our team-based approach to client service.”
 
Financial terms of the transaction, which is expected to close on 1 July, have not been disclosed. 

Latest News

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..
Investors urgently need greater access to diversified investment strategies aligned with the Paris Agreement on climate change if the world..

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