Corporate Roundup: Wealth Enhancement Group Acquires $2B RIA, Ascensus, Financial Finesse Extend Wellness Collab
In this week’s roundup, Wealth Enhancement Group announces a new acquisition in Fintrust Capital Advisors, Ascensus and Financial Finesse extend their partnership on financial wellness, and UBS Wealth Management brings in an advisor team with over $400 million in client assets.
Wealth Enhancement Group Acquires Fintrust Capital Advisors
Wealth Enhancement Group is acquiring FinTrust Capital Advisors, LLC, a hybrid registered investment advisor (RIA) headquartered in Greenville, South Carolina with additional office locations in Anderson, South Carolina and Athens, Georgia. The team of 14 advisors and 13 support staff oversees more than $2.39 billion in client assets and is led by Chief Investment Officer, Allen Gillespie, CFA.
Jeff Dekko, chief executive officer of Wealth Enhancement Group, said, “It is exciting to expand our presence in the Southeast by joining forces with FinTrust Capital Advisors. Allen and his knowledgeable team are experienced at their craft. They create customized financial solutions tailored to their clients’ unique needs.”
Founded in 2007, FinTrust Capital Advisors offers advanced financial planning, investment management, and retirement plan services to their clients including business owners, professionals, and high-net-worth families.
“Our firm was built on the premise that the best wealth management advice combines investment management guidance, advanced financial planning, and tax strategies with strong client relationships,” said Gillespie. “Joining Wealth Enhancement Group allows us to strengthen that promise by tapping into their robust network of central services.”
Jim Cahn, chief strategy officer of Wealth Enhancement Group, said, “We are pleased FinTrust Capital Advisors has chosen to join Wealth Enhancement Group. Our firms have a similar dedication to comprehensive wealth management and top-tier client service which we believe will make for a highly complementary relationship.”
Park Sutton Advisors, a Waller Helms company, served as the exclusive financial advisor to FinTrust Capital Advisors.
Ascensus and Financial Finesse Extend Collab
Ascensus is extending its relationship with Financial Finesse, in an effort to support increased plan engagement and improve participants’ overall financial wellness.
Since 2018, Ascensus has integrated Financial Finesse’s capabilities with its other financial wellness tools and resources, like the READYSAVE app, which are tailored for retirement plan participants.
Since the commencement of its partnership, Ascensus says its participants who use Financial Finesse have achieved the following results:
- 99.2% of users felt better prepared to make a financial decision.
- 90.9% felt more prepared for their future after their coaching session.
- 80% took at least one action within 30 days of working with a coach.
- 63% who did not have emergency savings now have at least $1,000 set aside for unplanned expenses.
“The opportunity for this unique solution to benefit our clients for years to come is exciting to us all,” said Jason Crane, head of Core Retirement at Ascensus. “We’re committed to empowering savers to take control of their financial wellness and prepare for the future, and Financial Finesse has proven to be an effective partner in helping to boost plan engagement and get more savers saving more.”
“We are thrilled to deepen our relationship with Ascensus,” said Liz Davidson, founder and CEO of Financial Finesse. “The scale of this expanded partnership underscores their commitment to innovation and relentless focus on supporting retirement plan advisors and plan sponsors while helping millions change their financial lives and save for a better future.”
UBS Wealth Management Hires $400M Advisor Team
UBS Wealth Management has added Jared Berault as a financial advisor in Manchester, New Hampshire. Berault is responsible for managing more than $400 million in client assets. He is joined by Client Associate Fred Kline.
“For many years, Jared has been serving his clients with a deep level of knowledge and integrity, and I am thrilled to have him and Fred join our Manchester office,” said Patrick Henning, Manchester market director at UBS Wealth Management USA. “Together they bring a wealth of experience, passion and fresh perspectives that I believe will be additive to our team and the value we bring to clients. I look forward to helping them continue to grow at UBS.”
With over 20 years of experience in the financial services industry, Berault works with clients in all areas of wealth management, including retirement and education planning, portfolio construction, liability management, tax minimization, asset preservation and insurance, with a particular focus on helping clients assure lifetime, retirement income streams. He offers clients sophisticated and customized solutions based on their individual risk tolerance, time horizon, liquidity needs and overall investment goals.
Berault received his bachelor’s degree from Marist College in Poughkeepsie, New York.
Kline is a registered client associate who joined the financial services industry in 2020.
SEE ALSO: