Wealth Enhancement Buys $2.2B Hybrid RIA L.M. Kohn

Wealth Enhancement, an acquisitive Minneapolis-based registered investment advisor with more than $131 billion in client assets, has acquired L.M. Kohn & Company, a hybrid RIA with more than $2.2 billion in assets and 23 employees.

The deal expands Wealth Enhancement’s presence across the Midwest and South.

L.M. Kohn was founded in 1990 by Larry Kohn, who now serves as CEO. It operates out of its Cincinnati headquarters and five locations across Georgia, Iowa and Michigan. In addition to its RIA, L.M. Kohn also has a broker/dealer. 

The firm specializes in financial planning and small business benefits consulting.

“Larry Kohn has built a strong legacy of exceptional service and comprehensive wealth management for more than three decades,” Wealth Enhancement CEO Jeff Dekko said in a statement. 

The transaction closed on Dec. 6, and Echelon Partners served as L.M. Kohn’s advisor on the deal. 

This follows news last week that Wealth Enhancement acquired FPG Private Wealth, a hybrid registered investment advisor with more than $532 million in client assets and offices in Carmel and Lafayette, Ind. 

Wealth Enhancement is owned by a group of private equity firms, led by TA Associates and Onex Corporation, as well as its employees.