Servo Wealth Management, an Oklahoma City RIA with more than $210 million in client assets, agreed to sell its advisory business to Wealth Enhancement, giving the buyer a new foothold in Oklahoma.
The deal lifts Wealth Enhancement's total client assets above $161 billion and extends its reach into the South-Central region as it keeps adding independent advisory firms.
Eric Nelson, who founded Servo in 2012, said the move gives clients broader wealth-management support and reunites him with the former Equius Partners team that joined Wealth Enhancement in 2023.
Wealth Enhancement has been on a summer acquisition run, following recent purchases in Washington state, Alabama and the Chicago area after announcing seven deals in the second quarter.
That buying spree comes as Carlyle Group and Bain Capital are reportedly the final bidders for Wealth Enhancement in a sale process valuing the firm at about $7 billion including debt.