Minneapolis-based Wealth Enhancement announced the acquisitions of three RIAs this week, expanding its presence in Wisconsin, Utah and California, while boosting its
total client assets to $132.2 billion.
AEGIS Financial
The firm said Thursday it is acquiring AEGIS Financial, an independent RIA with offices in Appleton, Oshkosh and Milwaukee, Wisconsin, that oversees more than $468 million in client assets as part of a transaction expected to close on Dec. 31.
The team of five advisors and 10 support staff is led by William Bowman, the firm’s President.
“AEGIS Financial brings nationally recognized expertise, demonstrated by William Bowman’s inclusion on the Forbes Best-In-State Wealth Advisors list in Wisconsin for five consecutive years, a testament to the exceptional quality of their practice,” Jeff Dekko, CEO of Wealth Enhancement, said in a news release.
Wise Rhino served as the advisor to AEGIS in the transaction, according to Wealth Enhancement.
Wealth Advocates
On Wednesday, Wealth Enhancement said it is purchasing Wealth Advocates, a hybrid RIA in Logan, Utah, whose team oversees more than $476 million in client assets. John Mickelson, Wealth Manager, leads its team.
The transaction is expected to close on Dec. 31, Wealth Enhancement said.
Wealth Advocates specializes in working with business owners, retirees and current or former employees of the State of Utah, Intermountain Healthcare, Northrop Grumman and Utah State University, Wealth Enhancement noted.
Spectrum Wealth Management
On Tuesday, Wealth Enhancement said it acquired independent RIA Spectrum Wealth Management and its affiliated certified public accounting (CPA) firm, Putman Group, in Irvine, California, as part of a transaction that closed on Monday.
Spectrum’s team consists of one advisor, 14 financial professionals and five support staff that has over $182 million in client assets, Wealth Enhancement said.
It is led by advisor and CPA Benjamin Ross Putman, its Founder and Principal, with CPAs Sanaz Afshar, Joseph Reese and Allan Ottens.
“We strive to help our clients prosper so they can “Aspire and Live Life’ to the fullest,” said Putman. “Joining Wealth Enhancement is the next step in fulfilling and expanding that promise, giving our clients access to even greater resources and support.”
“By welcoming this talented team of financial and tax professionals, we're expanding our firm's presence and capabilities in California,” according to Jim Cahn, Chief Strategy Officer of Wealth Enhancement. “With the addition of Spectrum Wealth Management, Wealth Enhancement now operates 20 advisor offices across the state,” he said.
“Wealth Enhancement has now completed 13 acquisitions in 2025 to-date,” a company spokesperson told WSR by email on Thursday.
“Prior to the three acquisitions announced this week, we announced our acquisition of L.M. Kohn on December 9,” the spokesperson pointed out.
She added, “We can confirm our pipeline remains strong for the remainder of the year and looking ahead to 2026.”
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
