By Kenneth Corbin
Wealth Enhancement, a large registered investment advisory firm based in Minneapolis, has acquired L.M. Kohn, a Cincinnati wealth manager with more than $2.2 billion in client assets. The deal closed Dec. 6. Founded in 1990, L.M. Kohn is a hybrid firm, dually registered as an investment advisor and a brokerage.
Founder Larry Kohn says he launched the practice to provide clients with "independent, thoughtful financial guidance built on trust," and that teaming with a far larger firm will enable his team to offer more services and specialized advice.
"Joining forces with Wealth Enhancement allows us to stay true to that mission while giving our clients access to even more sophisticated tools, services, and specialists -- all without losing the personalized relationships that set us apart," he says.
The acquisition vaults Wealth Enhancement's total client assets to more than $131 billion. Wealth Enhancement CEO Jeff Dekko praised Larry Kohn's "strong legacy of exceptional service and comprehensive wealth management" that has spanned more than three decades.
L.M. Kohn maintains offices in Georgia, Iowa, and Michigan in addition to the Cincinnati headquarters. The firm has a staff of 23, made up of 11 advisors and 12 support staffers. It serves a predominantly retail client base, though it listed 68 institutional clients on its most recent Form ADV regulatory filing. In that document, the firm reported that it serves nearly 3,100 nonhigh-net-worth individual clients and 489 wealthy individuals, who together account for the lion's share of the firm's assets under management.
On the retail side of the business, L.M. Kohn specializes in financial planning. On the institutional side, it offers small-business benefits consulting. The deal continues Wealth Enhancement's aggressive acquisition campaign. Last year, the firm announced 13 deals, more than any other RIA, according to DeVoe & Co., an investment bank and consultancy that tracks mergers and acquisitions in the industry. This is Wealth Enhancement's tenth transaction of the year, and a company spokeswoman says it is looking ahead to "a robust close to the year and start to 2026."
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
December 09, 2025 14:15 ET (19:15 GMT)
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