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Napa Valley wealth management firms with $400M in assets selling to Midwest group

    Napa Valley wealth management firms with $400M in assets selling to Midwest group

    Napa Valley Wealth Management and TrueNote Investment Advisors Inc., based in St. Helena, have been acquired by Minneapolis-based wealth management firm Wealth Enhancement Group.

    The two acquired firms are led by President and Chief Investment Officer Kelly Crane CFP, CLU, CFA, and oversee more than $400 million in client assets. In addition to the Napa Valley, the firms have offices in Walnut Creek and El Cerrito. Napa Valley Wealth Management was founded in 1992.

    Financial terms of the deal, which will close on March 31, were not disclosed.

    With the addition of the two companies, Wealth Enhancement Group, founded in 1997, reports it expects to have over $55.1 billion in client brokerage, advisory and trust assets.

    “This transaction confirms the power of our value proposition for RIA businesses of all types,” said Jim Cahn, Wealth Enhancement Group’s chief Investments & Business Development officer. “Our successful M&A growth has been driven by our emphasis on going beyond a typical ‘one-size-fits- all’ model for our partner firms. For us, independence means we provide the innovative tools, technologies and resources. From there, we empower teams like InConcert Napa Valley to run their business as they see fit. We’re thrilled to welcome Kelly and his team to Wealth Enhancement Group, and excited about all that we can achieve together.”