Rock House Financial an independent RIA with $272 million in AUM, is joining Wealth Enhancement Group, bringing the acquisitive firm’s client, advisory, trust and brokerage assets to $85.7 billion.
Based in Farmington, Utah, it is WEG’s first location in the state. The team is led by founder Bob Aamodt, CFP; Nicole Roberts, CFP; and Zach Nelson, CFP, and includes four financial advisors and six support staff.
Aamodt launched Rock House Financial in 1998. The firm provides financial planning, asset management and charitable giving strategies to clients and advises on qualified retirement plans for small businesses. Its clients are mainly located along the Wasatch Front and include business owners, women and social media influencers.
Aamodt said moving to WEG will allow the team to shift responsibilities like IT, compliance, legal, security and marketing to WEG, freeing up staff to spend more time with clients and grow the practice.
The Rock House deal comes on the heels of WEG’s purchase this week of Peak Financial Services, a $123 million hybrid RIA in Northborough, Mass. That follows last week’s acquisition of Starfox Financial Services, an RIA with more than $254 million in assets in The Woodlands, Texas.
Among the most active RIA buyers of the last few years, WEG completed 18 deals last year, 14 in 2022 and 16 in 2021.
Founded in 1997, WEG has grown from $4 billion in AUM to over $85 billion since it sold a majority stake to Lightyear Capital in 2015. TA Associates bought out Lightyear Capital’s investment in 2019 when the firm was overseeing around $12 billion. Onex Partners took ownership in 2021, just as the firm approached $40 billion in AUM.
