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Private Equity

Wealth Enhancement Group Acquires $470M Gdm Advisory Group

by posted 1year ago 148 views
The Lightyear Capital-backed firm is charging toward $10 billion in AUM. : Wealth Enhancement Group, a fast-growing registered investment advisor backed by private equity firm Lightyear Capital, has acquired another large RIA as it closes in on $10 billion in assets under management. The Minneapolis, Minn.-based firm said on Tuesday it acquired GDM Advisory Group, a fee-based independent wealth manager in the Philadelphia area with $470 million in client assets. Terms of the deal were not disclosed. The acquisition is the second in as many months for Wealth Enhancement Group, which now has $9.7 billion in AUM.