Wealth Enhancement buys advisory business of Dickerson Jackson & Associates
Wealth Enhancement has acquired the investment advisory operations of Dickerson Jackson & Associates, a hybrid registered investment adviser based in Glen Allen, Virginia.
Financial terms of the deal remain undisclosed.
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The business being acquired includes a four-person team made up of two advisers and two support staff.
It is headed by managing partners Jeff Dickerson and Todd Jackson and is responsible for more than $376m in client assets.
Dickerson Jackson & Associates was set up in 2004.
According to the information provided, the firm has worked with clients for over 20 years on financial matters through an integrated wealth management approach.
Its service offering includes financial planning, investment management, retirement planning, estate and trust planning, business planning, risk management, fixed income services and charitable giving strategies.
Jeff Dickerson and Todd Jackson said: “Over the years, we’ve had the privilege of supporting clients through many of life’s most meaningful moments and important financial decisions.
“Joining Wealth Enhancement gives us even more resources and capabilities to support our clients along the way, while preserving the client-centred approach that has always been at the heart of our firm.”
The latest transaction follows another deal completed by Wealth Enhancement last month, when it acquired the investment advisory business of Servo Wealth Management in Oklahoma City, Oklahoma.
Servo Wealth Management was founded in 2012 by Eric Nelson and supervises more than $210m client assets.
Wealth Enhancement CEO Jeff Dekko said: “What impressed us about Dickerson Jackson & Associates is the discipline and care behind the team’s approach. Through their ‘Understand-Design-Implement-Manage’ philosophy, Jeff and Todd have built a thoughtful process that keeps clients at the centre of every decision.”
In July, the Financial Times reported that Carlyle and Bain Capital are competing to acquire Wealth Enhancement in a deal that could value the wealth management company at roughly $7bn, including debt.
