Wealth Enhancement Group, one of the nation’s most aggressive players in the independent wealth management space, is closing out the year with another strategic acquisition. The firm has announced a partnership with Ascent Private Wealth, a hybrid Registered Investment Advisor (RIA) based in Spartanburg, South Carolina, a move that significantly bolsters Wealth Enhancement Group’s footprint in the Southeast.
The deal, expected to formally close on December 31, 2025, brings more than $240 million in client assets under Wealth Enhancement Group’s umbrella. Led by Private Wealth Advisor Steve Ford, CFP®, LLM, the Ascent team of two advisors and one support member specializes in a critical niche: comprehensive financial guidance for business owners and entrepreneurs.
For Ascent Private Wealth, which was founded in 2002, the partnership provides access to the extensive resources of a national-scale firm. Their core expertise lies in generational wealth building, including detailed business and succession planning, investment management, and legacy strategies. This specialized focus was a major draw for the acquiring company.
“Our partnership with Ascent Private Wealth reflects our continued commitment to partnering with firms that share our values and client-first mindset,” said Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group. “We’re excited about the depth of knowledge the Ascent Private Wealth team brings, particularly in serving business owners and navigating the complexities of generational wealth.” The acquisition establishes the fourth location for Wealth Enhancement Group in South Carolina, marking a clear push for regional dominance.
This transaction is more than a regional expansion; it is the latest evidence of a powerful trend in the wealth management industry. The entire sector has seen an acceleration in mergers and acquisitions throughout 2025, with deal volume outpacing the previous year. This surge is largely driven by private capital-backed firms, like Wealth Enhancement Group, seeking to achieve scale and consolidate the highly fragmented market.
Independent advisory firms are increasingly looking for partners to solve for two key issues: the need for sophisticated technology and resources that can only be afforded at a large scale, and a looming need for succession planning. By joining a platform like Wealth Enhancement Group, smaller firms can offload operational burdens and focus entirely on client relationships.
The addition of Ascent Private Wealth helps push the acquiring firm’s total client advisory, trust, and brokerage assets to over $132.7 billion. With a track record of more than 60 total acquisitions, Wealth Enhancement Group continues its decades-long strategy of targeted growth to become a preeminent national brand. For clients of Ascent, the transition is intended to feel seamless, reinforcing the team’s ongoing commitment to personalized, high-touch service.
Steve Ford of Ascent Private Wealth commented on the move, noting, “After months of thoughtful consideration, we determined that Wealth Enhancement was the right strategic partner for our firm. Not only are they an excellent cultural fit, but they also bring the scale, resources, and forward-thinking approach needed to elevate our services to the next level.”
