Napa Valley wealth management companies with $400 million in assets sold to Midwest Group

St. Helena-based Napa Valley Wealth Management and TrueNote Investment Advisors Inc. have been acquired by Minneapolis-based wealth management firm Wealth Enhancement Group.

The two acquired companies are led by President and Chief Investment Officer Kelly Crane CFP, CLU, CFA, and oversee more than $400 million in client assets. In addition to Napa Valley, the companies have offices in Walnut Creek and El Cerrito. Napa Valley Wealth Management was founded in 1992.

Financial terms of the deal, which will close on March 31, were not disclosed.

With the addition of the two companies, Wealth Enhancement Group, founded in 1997, reports that it expects to have more than $55.1 billion in brokerage, advisory and trust assets.

“This transaction confirms the power of our value proposition for RIA businesses of all types,” said Jim Cahn, director of investment and business development for Wealth Enhancement Group. “Our successful M&A growth has been driven by our focus on going beyond a typical ‘one-size-fits-all’ model for our partner companies. For us, independence means providing tools, innovative technologies and resources. From there, we empower teams like InConcert Napa Valley to run their businesses the way they see fit. We’re thrilled to welcome Kelly and her team to the Wealth Enhancement Group, and excited to all we can accomplish together.