Wealth Enhancement Acquired RWA Wealth Partners

The deal combines two firms to manage over $187.1 billion in client assets for high-net-worth households.

Updated on Sept. 30, 2026 in Financial Planning

Isometric editorial illustration of interlocking geometric brass blocks, representing the structural consolidation of two financial advisory firms. — Wealth Enhancement has agreed to acquire RWA Wealth Partners, a merger that will create a firm managing over $187.1 billion in client assets by late 2026. AI Illustration. Upload story photo >

Live Poll

Do you believe the consolidation of large financial advisory firms results in better services for clients?

Wealth Enhancement has agreed to acquire RWA Wealth Partners, a deal expected to push the combined firm's total client assets to more than $187.1 billion. The transaction is slated to close in the fourth quarter of 2026.

Why it matters

This merger signals a continued consolidation in the financial advisory sector as firms seek to expand their service offerings for ultra-high-net-worth families. Clients will see RWA operate as specific advisor teams within the larger Wealth Enhancement network.

The acquisition adds $22.46 billion in client assets to Wealth Enhancement's existing $164.6 billion portfolio, reported as of August 31, 2026. The combined platform will manage over $187.1 billion in total assets.

The players

Wealth Enhancement

An advisory firm that provides wealth management services and now oversees over $187.1 billion in client assets.

RWA Wealth Partners

A wealth management firm managing $22.46 billion in assets that provides family office services to high-net-worth clients.

Summit Partners

A private equity firm that provided backing for RWA Wealth Partners and is exiting its investment through this transaction.

Michelle Knight

A leader at RWA Wealth Partners who will continue to guide the RWA Family Office unit post-acquisition.

JP Powers

A leader at RWA Wealth Partners who will maintain his role within the RWA Family Office unit.

The details

Following the transaction, RWA Wealth Partners will function as advisor teams integrated into the Wealth Enhancement structure. RWA leadership, including Michelle Knight and JP Powers, will continue to direct the RWA Family Office unit. This move marks a full exit for Summit Partners, the private equity firm that previously backed RWA following its 2023 formation.

RWA Wealth Partners was formed in 2023.
Wealth Enhancement reported $164.6 billion in assets on 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.

Money Landscape

This acquisition follows the pattern of consolidation seen in the 2023 combination of Adviser Investments and Ropes Wealth Advisors. It reflects the ongoing trend of wealth management firms merging to increase scale and specialized capabilities for high-net-worth clients.

Existing clients of RWA Wealth Partners should look for correspondence regarding potential changes to account management or service teams. If you are a client, discuss any impacts on your personal financial plan with your current advisor.

The takeaway

Large-scale firm mergers can shift the service model and leadership teams associated with your wealth management. Clients should confirm the contact information for their primary advisor and review any updated service agreements issued during the transition.