Wealth Enhancement has completed the acquisition of L.M. Kohn, a $2.2 billion hybrid registered investment advisor (RIA), strengthening its footprint in the wealth management sector. The deal marks a key step in Wealth Enhancement’s growth strategy amid increasing consolidation in the advisory space.
- Wealth Enhancement acquired L.M. Kohn, a $2.2 billion hybrid RIA.
- The deal adds approximately 150 financial advisors to Wealth Enhancement’s network.
- L.M. Kohn operates a hybrid advisory model combining fee-based and brokerage services.
- Integration is expected to be completed within 12 months.
- The transaction supports Wealth Enhancement’s strategy to scale operations and enhance service offerings.
- The deal reflects broader industry trends toward consolidation among mid-tier wealth management firms.
Wealth Enhancement has finalized the acquisition of L.M. Kohn, a registered investment advisor with $2.2 billion in client assets under management. The transaction integrates L.M. Kohn’s hybrid advisory model—combining fee-based advisory services with brokerage capabilities—into Wealth Enhancement’s existing platform. This acquisition expands Wealth Enhancement’s reach across multiple U.S. markets, adding approximately 150 financial advisors to its network. The deal underscores a broader trend of consolidation among mid-tier wealth management firms seeking scale and operational efficiency. By integrating L.M. Kohn’s capabilities, Wealth Enhancement strengthens its ability to offer comprehensive financial planning and investment management solutions to high-net-worth individuals and institutions. The acquisition is expected to enhance cross-selling opportunities and improve economies of scale across technology, compliance, and back-office support systems. Financial details of the transaction were not disclosed, but industry sources indicate that the deal value aligns with recent market multiples for hybrid RIAs of similar size. The integration process is expected to be completed over the next 12 months, with L.M. Kohn’s leadership team continuing to manage client relationships under the new ownership structure. This move positions Wealth Enhancement as a more competitive player in the growing segment of hybrid advisory firms. The acquisition could have ripple effects across the wealth management landscape, potentially accelerating M&A activity among firms aiming to compete with larger, national platforms. Advisors at L.M. Kohn and other firms in similar categories may see increased opportunities for partnership or acquisition as the industry consolidates around platforms with greater technological and operational resources.