Wealth Enhancement, an acquisitive Minneapolis-based RIA, has added the investment advisory business of Dickerson Jackson & Associates, a hybrid RIA in Glen Allen, Va., with $376 million in assets under management.
The financial terms of the transaction, which closed yesterday, were not disclosed.
Dickerson Jackson & Associates, founded in 2004, is led by Jeff Dickerson and Todd Jackson. The team also includes two support staff. The firm “has spent more than two decades helping clients navigate complex financial decisions through a personalized and integrated wealth management process,” a press release said. Its offerings include financial planning, investment management, retirement planning, estate and trust planning, risk management, and charitable giving strategies.
Dickerson and Jackson began in the industry with Olde Discount Corporation in 1986 and 1987, respectively. They worked at firms including First Union Capital Markets Corp., UBS Financial Services and Wells Fargo Advisors before moving to their most recent firm, Raymond James, in 2022.
“Over the years, we’ve had the privilege of supporting clients through many of life’s most meaningful moments and important financial decisions. Those experiences have reinforced our belief that wealth management is ultimately about helping people navigate change, pursue their goals, and make decisions with confidence,” the duo said in a statement,\.
They added that they partnered with Wealth Enhancement for added “resources and capabilities to support our clients along the way, while preserving the client-centered approach that has always been at the heart of our firm.”
Jeff Dekko, CEO of Wealth Enhancement, said, “What impressed us about Dickerson Jackson & Associates is the discipline and care behind the team’s approach. … Their commitment to personalized planning and long-term stewardship aligns closely with what we value at Wealth Enhancement.”
Founded in 1997, Wealth Enhancement, among the nation’s most active RIA buyers, snapped up seven deals in the first half, second behind Stratos Wealth Network, according to ECHELON Partners.
The buying spree has continued in the second half, with two acquisitions in August—the investment advisory business of Miramar Capital, an independent RIA in Northbrook, Ill., that manages more than $592 million, and the investment advisory business of Weinand Financial, an independent RIA in Olympia, Wash., with more than $644 million in client assets.
With the addition of Dickerson Jackson & Associates, Wealth Enhancement will have more than $161.4 billion in client advisory, trust, and brokerage assets, including $6.1 billion in assets with Advisory Solutions Group, a registered investment advisor. The firm has 194 offices nationwide.