Wealth Enhancement Establishes Footprint In Alaska With $345 AUM RIA
Wealth Enhancement has acquired the investment advisory business of Arbor Capital Management, an independent RIA with locations in Anchorage and Fairbanks, Alaska, that manages $345 million in client assets.
The transaction, which closed on Monday, is the second this week for the acquisitive Minneapolis-based RIA. It’s also its first location in Alaska.
The financial terms were not disclosed.
Founded in 1996, Arbor Capital Management, a team of four advisors and two support staff, is led by Matthew Kolesky, president and investment advisor representative, and Ty Schommer, principal and investment advisor representative.
The firm serves clients nationwide, providing fiduciary wealth management and financial planning services to individuals, families, business owners, retirement plans, and institutional clients, according to a news release. “Its comprehensive approach spans customized investment management, retirement planning, tax planning, trust and estate planning, equity compensation, and multigenerational planning, helping clients navigate life transitions,” the release said.
“For almost 30 years, Arbor Capital Management has been built on a simple principle: always put our clients first. Joining Wealth Enhancement allows us to preserve the personalized relationships and fiduciary approach our clients have come to expect,” Kolesky said in a statement.
Schommer added, “Our clients have always trusted us to help them navigate life’s most important financial decisions. By joining Wealth Enhancement, we’re able to enhance that experience with access to a broader team of specialists, deeper planning resources and advanced technology.”
Jeff Dekko, CEO of Wealth Enhancement, said, “Arbor Capital Management has deep roots in Alaska and relationships that extend well beyond the state. For three decades, Matthew, Ty and their team have demonstrated that meaningful advice is not bound by geography. Their combination of personal connection and sophisticated planning has built an enduring advisory business, and we are proud to support its continued growth.”
Founded in 1997, Wealth Enhancement, among the nation’s most active RIA buyers, snapped up seven deals in the first half, second behind Stratos Wealth Network, according to ECHELON Partners. With this latest acquisition, it has added four RIAs in the second half.
Wealth Enhancement has more than $161.7 billion in client advisory, trust, and brokerage assets, including $6.1 billion in assets with Advisory Solutions Group, a registered investment advisor. The firm has 194 offices nationwide.
