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Heritage Improvement Group says it is adding yet another hybrid registered investment advisory firm, after a year of particularly aggressive acquisition activity.
The latest addition is The Gensler group, a Coronado, Calif., company founded in 1995 by Daniel Gensler which now has six members, including a heritage advisor Chaz fahrner and supervisor of branch operations Loretta perry, and manages $ 512 million, according to Wealth Enhancement Group.
The Gensler Group provides financial planning and wealth and asset management services including education and retirement planning, tax and estate planning, charitable giving, risk management, planning insurance and more, to high net worth individuals, retirees and early retirees, business owners and C-level executives, says Wealth Enhancement Group.
The companies did not disclose the financial terms of the deal, which is expected to be finalized on December 31.
After the acquisition closes, Gensler will serve as senior vice president and financial advisor, Fahrner as financial advisor and Perry as chief operating officer, according to Wealth Enhancement Group.
Wealth Enhancement Group made five acquisitions last year, one of the best RIA buyers in 2020, according to DeVoe & Co., but it did more than three times as much in 2021.
In the past two weeks, Wealth Enhancement Group also announced the acquisition of Dynamic financial management, a California hybrid RIA overseeing $ 674 million, as well as Cardan capital The partners, a Colorado-based RIA with over $ 1 billion in client assets.
The addition of The Gensler Group will be Wealth Enhancement Group’s 17th for the year, according to the company. Its assets after the acquisition closes are expected to reach $ 55.5 billion, according to the company.
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