Expansion of Wealth Enhancement as they acquire Arizona-based Registered Investment Advisor (RIA) firm
Wealth Enhancement Expands Operations with Acquisition of Manwaring Wealth Management
Wealth Enhancement, a US-based independent wealth management firm, has made another strategic move by acquiring Manwaring Wealth Management, an independent Registered Investment Advisor (RIA) based in Gilbert, Arizona. This acquisition marks Wealth Enhancement’s third location in Arizona and aligns with its strategy of expanding its footprint and adding advisory teams with compatible values and expertise.
Founded in 1997 and headquartered in Plymouth, Minnesota, Wealth Enhancement provides comprehensive and customized financial planning and investment management services. The firm, which operates as Wealth Enhancement Advisory Services (WEAS), is a wholly-owned subsidiary of Wealth Enhancement Group LLC, indirectly owned by private equity firms TA Associates Management, L.P. and Onex Partners. Wealth Enhancement has a broad geographic presence with offices primarily in the Midwest and additional locations in the Northeast, Southeast, and West, maintaining a client asset base totaling over $117.8 billion as of mid-2025.
The acquisition of Manwaring Wealth Management brings on board a team of four, including two advisors and two support staff. Manwaring Wealth Management, founded by Joshua Manwaring in 2014, offers a range of financial advisory services, including financial and retirement income planning, tax planning, and estate planning. The acquired entity manages over $164 million in client assets.
The partnership between Wealth Enhancement and Manwaring Wealth Management does not change Manwaring's commitment to serving clients with integrity, transparency, and care. Joshua Manwaring's team's core values and wealth management philosophy align well with Wealth Enhancement's own. The acquired division has been integrated into Wealth Enhancement Trust Services, enhancing the firm's resources and broadening its expertise.
In addition to the recent acquisition, Wealth Enhancement also acquired the Wealth Services Division of First International Bank & Trust in March. This acquisition deepens Wealth Enhancement's capabilities in trust and estate planning, and asset management. The acquired division manages assets worth over $581 million.
With these acquisitions, Wealth Enhancement continues to solidify its position in the US market and broaden its service offerings. The firm's growth strategy involves integrating specialized advisory firms to enhance its service capabilities and geographic reach.
- Wealth Enhancement, following its acquisition of Manwaring Wealth Management, has increased its expertise in areas such as estate planning and wealth management.
- The fusion of Wealth Enhancement and Manwaring Wealth Management teams will allow the firm to expand its financial advisory services, including investing, tax planning, and personal finance.
- As AI and finance continue to intertwine, Wealth Enhancement's growth strategy involves acquiring firms like Manwaring, enhancing its capabilities in areas like wealth management and estate planning using advanced technologies.
- By integrating Manwaring Wealth Management into its operations, Wealth Enhancement broadens its business area and increases its overall assets under management, currently standing at over $117.8 billion.
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