Wealth Enhancement Acquires RWA Wealth Partners for $187.1B+ Assets

Wealth Enhancement is set to significantly expand its capacity to serve ultra-high-net-worth (UHNW) individuals and family offices through its definitive agreement to acquire RWA Wealth Partners. This strategic move will propel the combined entity's client assets to over $187.1 billion, enhancing its sophisticated planning and advisory capabilities. The transaction, anticipated to finalize in the fourth quarter of 2026, marks a key exit for private equity firm Summit Partners, which has supported RWA's growth.

As of August 31, 2026, Wealth Enhancement managed approximately $164.6 billion in client assets, including $5.5 billion in brokerage accounts. RWA Wealth Partners, headquartered in Boston and led by CEO and Chief Economist Michelle Knight, contributes an additional $22.46 billion in client assets as of June 30, 2026. RWA's established presence spans Massachusetts, California, Illinois, and Michigan, positioning it as a prominent woman-led registered investment adviser in the U.S. market.

The integration will see RWA's specialized Family Office division bolster Wealth Enhancement's 'Reserve' offering. This program is designed for families with investable assets generally exceeding $25 million, requiring intricate coordination across investments, tax strategies, estate planning, business succession, and governance. RWA's deep expertise in trusts, estates, and family governance is particularly valuable, offering enhanced resources for multi-generational wealth management, complex ownership structures, and philanthropic endeavors.

RWA's family office heritage traces back to Ropes Wealth Advisors, formerly a subsidiary of the global law firm Ropes & Gray. This unit merged with Adviser Investments in 2023 to form the current RWA Wealth Partners. The acquired capabilities encompass trust administration, fiduciary services, estate settlement coordination, and comprehensive tax planning, including gift and estate tax analysis and liquidity event strategies. This deep specialization addresses the interconnected financial decisions families face during significant life events, such as business sales or generational wealth transfers.

Following the acquisition, key RWA leaders, including Michelle Knight, JP Powers, Nicole LaChapelle, and Kristin Fazio, will continue to guide the RWA Family Office operations, ensuring continuity for clients and staff. RWA's Private Wealth advisory teams will be integrated into Wealth Enhancement's broader structure, with Steve Reder continuing to support these groups. The combined asset total of over $187.1 billion also incorporates $8.5 billion from Advisory Solutions Group.

This acquisition aligns with the broader trend in wealth management towards consolidation and specialization, particularly in serving the UHNW segment. As the complexity of wealth increases, firms are seeking to offer integrated solutions that go beyond traditional investment management. Wealth Enhancement's move to acquire RWA's robust family office infrastructure demonstrates a strategic commitment to capturing a larger share of this lucrative market, which is projected for continued growth driven by intergenerational wealth transfer and increasing global asset accumulation.