Advisory M&A

Securian Financial Subsidiary Empyrean Benefit Solutions Acquires Enspire

The Securian Financial Group Inc. announced that its benefits administration subsidiary, Empyrean Benefit Solutions Inc., has acquired Enspire, an employee communication and engagement platform.

Through the acquisition of Enspire, Empyrean will expand on its benefits administration technology. The new solution +YOU integrates Enspire’s employee communication technology with Empyrean’s benefits administration platform. +YOU offers an employer’s suite of tools for productivity, wellness, communication and benefits.

“This acquisition will accelerate Empyrean’s mission of connecting benefits and enriching lives while helping clients build their own culture through benefits,” said Sid Gandhi, Empyrean board chair, in a statement. “Enspire and Empyrean’s capabilities are an important part of Securian Financial’s broadening set of solutions for employers’ benefits programs, including group insurance and voluntary benefits as well as enrollment and engagement.”

Pontera and AssetBook Announces Integration

AssetBook LLC, a software-as-a-service-based portfolio monitoring and reporting solution, announced its integration with fintech company Pontera Solutions Inc.

“There is a tremendous advantage in being able to provide advisers with access to a comprehensive view of the entirety of their clients’ wealth,” said Marwa Zakharia, AssetBook’s CEO, in a statement. “Partnering with Pontera allows us to do just that.”

Pontera enables advisers to employ rebalancing and tax strategies across their 401K, 403b and other plans. After the integration, advisers will be able to view, monitor, report and bill on held-away assets in AssetBook’s Pulse Platform.

“The reality is many 401(k) and 403(b) holders may not know that professional advice on these accounts is an option,” said David Goldman, chief business officer at Pontera, in a statement. “That’s why it’s important for Pontera to partner with companies like AssetBook to help advisers incorporate qualified retirement account management into sound rebalancing strategies and everyday operations for the benefit of their clients.”

Wealthspire Advisors to Acquire Heron Wealth

Wealthspire Advisors LLC announced a signed agreement to purchase Heron Financial Group LLC.

“We are delighted to welcome David Edwards and the Heron team to Wealthspire,” said Mike LaMena, Wealthspire’s CEO, in a statement. “The addition of this experienced team deepens our New York City presence with talented professionals who are committed to delivering an amazing client experience built on a foundation of trust and fiduciary care.”

Founded by Edwards in 1996, Heron Wealth provides financial planning, investment advice and estate planning services. The New York City-based wealth advisory firm manages approximately $300 million in assets.

“For three decades, we adapted our firm to meet the evolving needs of our clients,” said Edwards in a statement. “We are thrilled to join Wealthspire Advisors to add additional capabilities as we advise the ever more complex requirements of modern families.”

Wealth Enhancement Group Acquires Prozan Financial Services

Wealth Enhancement Group LLC announced the acquisition of Prozan Financial Services, a hybrid registered investment adviser.

“We are thrilled to welcome Prozan Financial Services to the Wealth Enhancement Group family,” said Jeff Dekko, Wealth Enhancement Group’s CEO, in a statement.

Founded in 1988, Prozan Financial Services serves both high-net-worth and middle market pre-retirees and retirees. The firm offers asset management, financial planning and retirement plan management. Prozan Financial Services oversees approximately $190 million in client assets and is led by founder Larry Prozan.

“After 35 years of being truly independent, Prozan Financial has decided to join Wealth Enhancement Group, a $60 billion firm, to utilize their capabilities to offer even more creative solutions to the complex financial problems clients face,” Prozan said in a statement.

Ty J. Young Wealth Management Acquires K. Horton Financial

Atlanta-based Ty J. Young Inc. Wealth Management has taken a step toward a bigger West Coast presence with the acquisition of Fresno, California-based K. Horton Financial.

In addition to expanding TJY’s West Coast presence, the acquisition introduces a variety of new capabilities to existing K. Horton Financial clients.

“We are very excited to have the opportunity to serve K. Horton Financial’s clients for many years to come,” said TJY CEO Ty Young in a statement. “The alignment in values between our teams creates an ideal match for both organizations.”

It is Ty J. Young Wealth Management’s 28th acquisition in the past five years. According to the company, it seeks out acquisitions that offer simple processes, prioritizing safety of principal and a reasonable rate of return.