Wealth Enhancement Group, a Plymouth, Minn.-based wealth firm overseeing $17 billion in assets, is acquiring Atlanta-based Joyn Advisors, a registered investment adviser that manages $1.3 billion.
The transaction is expected to close by April 1. DeVoe & Co. assisted Joyn in the acquisition process.
Joyn has 35 employees, including 12 advisers. It will be Wealth Enhancement’s 32nd office.
Last year, Lightyear Capital, the private equity firm founded by the late Donald Marron that had been a majority owner of Wealth Enhancement Group since 2015, sold its stake in the firm to TA Associates.