Minneapolis-based
Wealth Enhancement Group has acquired
SVA Financial Group, which is comprised of SVA Wealth Management LLC and SVA Trust Company LLC.
Based in Madison, SVA Financial Group offers wealth management, trust and tax planning services to high-net-worth individuals and families, along with investment and 401 (k) plan services for small businesses.
As of Dec. 1, 2020, SVA Financial Group had 22 financial advisors and more than $3.2 billion in client assets. WEG and its registered investment advisor, Wealth Enhancement Advisory Services, had more than $22 billion in client brokerage and advisory assets as of Nov. 30, 2020.
WEG leaders say the acquisition will bolster WEG’s Wisconsin footprint while the company expects to finish out the year with more than $25 billion in client assets.
“We are proud to welcome the professionals of SVA Financial Group to the Wealth Enhancement Group family,” WEG chief executive officer Jeff Dekko said in a statement. “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.”
In addition to its headquarters in Madison, SVA Financial Group has operations in Appleton, Brookfield, Rockford, Illinois and Sioux Falls, South Dakota.
The SVA Wealth Management transaction is set to close on Dec. 31, 2020. The acquisition of SVA Trust Company, a company within SVA Financial Group, will close in Q1 of 2021 subject to regulatory approval.
“SVA is proud to have fulfilled the wealth management and trust needs of our clients for 25 years,” SVA CEO and principal John Baltes said in a statement. “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 organization that continues to scale its capabilities with each passing year.”
