About Kings Point Capital Management
On June 2nd, 2022, Kings Point Capital Management was acquired by Wealth Enhancement Group. The terms of the transaction were not disclosed. Kings Point Capital Management is an independent RIA with offices in Great Neck, New York and Brentwood, Tennessee The Company offers investment advisory, asset allocation, investment management, and financial planning services for high net worth families, individuals, and institutions. Kings Point Capital Management serves clients throughout the United States. The company was founded in 2006 and is based in Great Neck, New York.
Latest Kings Point Capital Management News
Jun 9, 2022
News provided by Share this article Share this article Addition of Firm Focusing on High-Net-Worth Clients Brings Wealth Enhancement Group's Total Client Assets to More Than $55 Billion MINNEAPOLIS, June 2, 2022 /PRNewswire/ -- Wealth Enhancement Group, an independent wealth management firm, today announced the acquisition of Kings Point Capital Management, LLC, ("Kings Point"), an independent RIA with offices in Great Neck, New York and Brentwood, Tennessee. Kings Point's team of five advisors and 11 support staff oversee $1.7 billion in client assets. The partnership builds on Wealth Enhancement Group's continued growth, bringing its total client assets to $55 billion. Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, "Kings Point has built a tremendously successful business by delivering customized solutions to their high-net-worth clients. This is a business model Wealth Enhancement Group understands well and embraces. Our financial planning-driven platform and service approach is a perfect fit for Kings Point's advisors, staff and clients, so I'm excited to work with this team and help them build on an already impressive operation." Jack L. Salzman, Senior Managing Partner and Jeffrey P. Bates, Managing Partner, leveraged their years of experience serving as Goldman Sachs executives to found Kings Point as an independent RIA in 2005. With support from Jake A. Marshall, IV, Partner, and the team, Kings Point has grown by serving the investment management needs of wealthy individuals, multi-generational families, small business owners, endowments, foundations and trusts. Kings Point, in part, has built its reputation by actively managing concentrated portfolios that focus on tax efficiency. This is Wealth Enhancement Group's fifth closed acquisition in 2022. Mr. Salzman said, "As a firm that values high-touch service, personal attention and data analytics, we took our time to search for the right partner. We found the ideal match in Wealth Enhancement Group, whose team immediately understood our philosophy of service and embraced our unique investment management approach." Mr. Bates added, "We look forward to the added tools, systems and flexibility they will make available as we continue to strive to provide our clients the absolute best service possible." Commenting on the partnership, Jim Cahn, Wealth Enhancement Group's Chief Investments & Business Development Officer, said, "We are thrilled that Kings Point chose to join forces with Wealth Enhancement Group. With more than 80 years of combined industry experience, Jack and Jeffrey are true leaders in the RIA space. We are honored to provide them with the additional scale and resources they need to continue competing in the evolving wealth management industry." Mr. Salzman will serve as Director of Fundamental Research, directing individual stock research of Wealth Enhancement Group's investment team. DeVoe & Company, a leading strategy and M&A consulting company serving the RIA industry, supported Kings Point Capital Management in its decision to join forces with Wealth Enhancement Group. About Wealth Enhancement Group Wealth Enhancement Group is a Greater Minneapolis-based independent wealth management firm offering comprehensive and customized financial planning and investment management services. Founded in 1997, Wealth Enhancement Group serves clients nationwide. Wealth Enhancement Group specializes in providing retail clients with the team-based knowledge and resources they need to simplify their financial life. For more information, please visit www.wealthenhancement.com . Advisory services offered through Wealth Enhancement Advisory Services, LLC (WEAS), a registered investment advisor. Certain, but not all, investment advisor representatives (IARs) of WEAS are also registered representatives of and offer securities through LPL Financial, Member FINRA/SIPC. Wealth Enhancement Group and Wealth Enhancement Advisory Services are separate entities from LPL Financial. Wealth Enhancement Group is a registered trademark of Wealth Enhancement Group, LLC. Wealth Enhancement Group and its Registered Investment Advisor, Wealth Enhancement Advisory Services, had $53.3 billion in client brokerage and advisory assets as of 3/31/2022. Kings Point Capital Management had over $1.7 billion in client brokerage and advisory assets as of 3/31/2022. With the addition of previously announced acquisitions and the acquisition of Kings Point Capital Management, Wealth Enhancement Group expects to have over $55 billion in client brokerage, advisory and trust assets as of May 31, 2022. Media Contacts
Kings Point Capital Management Frequently Asked Questions (FAQ)
When was Kings Point Capital Management founded?
Kings Point Capital Management was founded in 2006.
Where is Kings Point Capital Management's headquarters?
Kings Point Capital Management's headquarters is located at 60 Cuttermill Rd, Great Neck.
What is Kings Point Capital Management's latest funding round?
Kings Point Capital Management's latest funding round is Acquired.
Who are the investors of Kings Point Capital Management?
Investors of Kings Point Capital Management include Wealth Enhancement Group.