Wealth Enhancement Group announced the acquisition of BTR Capital Management, establishing a ninth office in Northern California and bringing the rapidly growing registered investment advisor to more than $55.2 billion in client assets.
Based in Oakland, Calif., BTR’s team of nine advisors and five support staff are led by CEO John Stratton and oversee more than $1 billion in client assets for high-net-worth individuals and families, foundations and retirement plans. The partnership represents a key regional market for WEG, as it continues to grow its national footprint.
“We are thrilled to join forces with BTR and give them access to Wealth Enhancement Group’s powerful resources, capabilities and robust growth programs,” WEG Chief Investments and Business Development Officer Jim Cahn said in a statement welcoming the team.
“As we considered the right partner to help us continue to serve our clients in the very best manner, Wealth Enhancement Group was clearly the right firm for our clients and team,” said Stratton. “We are extremely pleased to be part of one of the fastest-growing RIAs in the country."
Founded in 1997, Minneapolis-based WEG serves tens of thousands of households nationwide and has grown rapidly through acquisition in recent years. The firm will continue its active M&A strategy with the goal of “accelerating organic growth through institutionalized client acquisition and driving efficiency through innovative uses of technology,” according to the announcement.
BTR is the 12th acquisition WEG has announced in 2022. In all of 2021, the RIA made 16 acquisitions.
Advice is offered through its RIA, Wealth Enhancement Advisory Services, while some of WEG’s investment advisor representatives are also registered representatives of and offer securities through LPL Financial, where a little more than 7% of WEG’s total assets ($4 billion) are held in brokerage accounts.
