Wealth Enhancement Has Agreed to Acquire RWA Wealth Partners

The deal adds $22.46 billion in assets to the firm, bringing its total under management to over $187.1 billion.

Updated on Sept. 30, 2026 in Financial Planning

Wealth Enhancement Has Agreed to Acquire RWA Wealth Partners

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Wealth Enhancement has announced an agreement to acquire RWA Wealth Partners. This transaction will increase the acquiring firm's total client assets to more than $187.1 billion.

Why it matters

The acquisition aims to bolster Wealth Enhancement's family office capabilities for ultra-high-net-worth clients. It also serves as an exit for RWA's private equity backer, Summit Partners.

RWA Wealth Partners manages $22.46 billion in client assets, which will move to Wealth Enhancement's current $164.6 billion portfolio. The combined entity is expected to manage over $187.1 billion in total assets.

The players

Wealth Enhancement

An independent wealth management firm headquartered in Minneapolis.

RWA Wealth Partners

A wealth management firm formed in 2023 through the combination of Adviser Investments and Ropes Wealth Advisors.

Summit Partners

A global private equity investment firm that served as the backer for RWA Wealth Partners.

Michelle Knight

A member of the RWA leadership team who will continue to head the RWA Family Office unit.

JP Powers

A member of the RWA leadership team who will continue to head the RWA Family Office unit.

The details

RWA Wealth Partners will transition to operate as advisor teams within the Wealth Enhancement structure. Leadership members Michelle Knight and JP Powers will continue to head the RWA Family Office unit following the completion of the transaction.

RWA Wealth Partners was formed in 2023.
Wealth Enhancement assets were reported at $164.6 billion as of August 31, 2026.
The acquisition was officially unveiled on Wednesday, September 30, 2026.
The transaction is expected to close in the fourth quarter of 2026.

Market Dynamics

This move reflects the ongoing consolidation trend within the U.S. registered investment advisor market as firms seek greater scale. By integrating RWA Wealth Partners, Wealth Enhancement positions itself to compete more aggressively for high-net-worth market share.

Existing clients of RWA Wealth Partners will see their accounts transition to the advisor team structure of Wealth Enhancement. The move may provide these clients with access to a broader suite of family office services and resources.

The takeaway

The merger highlights how mid-sized wealth firms are using acquisition strategies to build specialized family office departments. Investors should monitor how these integrations impact the continuity of service and specific account management approaches.