Wealth Enhancement Group, an independent wealth management firm, today last week that it has signed a definitive agreement to acquire Wiley Group, an independent financial advisory practice located in West Conshohocken.
The Wiley Group, which has $300 million in client assets, will now be the third office for the Wealth Enhancement Group in the Philadelphia region.
Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, “We are very pleased to announce that Wiley Group will be joining the Wealth Enhancement Group team, and that we are continuing to expand our already-significant footprint in the greater Philadelphia area. When we began our discussions with Wiley Group, we recognized right away how well-positioned they were to drive accelerated growth by leveraging our team-based approach to financial planning, portfolio management and back-office operations – and, most importantly, that they share our commitment to exceptional client service. Their successful targeted marketing programs were another indication of the strong fit between our two firms, and we look forward to incorporating their best practices into our organic marketing strategy.”
Mr. Dekko continued, “This announcement aligns perfectly with our strategy of developing substantial scale in each market where we operate, and we are thrilled to have the opportunity to bring a top-quality team like Wiley Group onboard. As we have continued to expand over the past six years, we have rigorously sought out exceptional partners to help us establish our presence as a national wealth management and financial planning brand. Jim Wiley and his team more than meet that standard, and we are eager to start working with them.”
Wiley Group provides fee-based independent financial advice to approximately 450 households, with a focus on robust financial planning. The firm, founded in 2009, is led by Jim Wiley and Don Riley, and will bring all ten of its employees to Wealth Enhancement Group.
Jim Wiley, Chief Executive Officer and Chief Investment Strategist of Wiley Group, said, “We are delighted to become part of the Wealth Enhancement Group team, and we look forward to all that we will accomplish together – both on behalf of our existing clients, and as we further expand our presence in the Greater Philadelphia metro area. With Wealth Enhancement Group, we’ve found an ideal partner that will not only continue to meet our exacting service standards for clients far into the future, but provides us with the tools and resources to fuel continued robust growth in this market.”
Financial terms of the transaction were not disclosed. The transaction is expected to close in June 2019.