WAGN Accelerates Growth by Spearheading Elk River Wealth’s Third Tuck-In Deal in Four Months

DENVER--(BUSINESS WIRE)--Wealth Advisor Growth Network (WAGN) is proud to announce that it has successfully helped Elk River Wealth Management close its third tuck-in deal since launching the firm in late March. The move adds breakaway advisors David Carroll and Jon Springer who made the move from Mutual of Omaha Bank to become Partners at Elk River Wealth and lead the firm’s Omaha, NE office.

The deal accelerates Elk River’s regional expansion and growth efforts, as David Carroll and Jon Springer collectively managed $230 million in assets under management prior to joining the firm. It also reinforces Elk River’s value proposition by adding advisors with a commitment to delivering complete planning, investment management and other services to help clients manage their wealth.

“As consolidation and tuck-ins continue, we are focused on not only structuring the financial side of deals, but also ensuring a unified vision, value proposition and belief system between firms and advisors,” said John Phoenix, Founder & Partner at WAGN. “This particular deal between Elk River, David Carroll and Jon Springer does exactly that by bringing together professionals who believe in putting clients first and delivering total wealth management to enhance every aspect of financial life.”

The deal is also an important strategic move for WAGN as it continues to advise RIAs throughout the United States to build their practices, accelerate growth and realize their full potential.

WAGN partnered with Elk River Wealth earlier this year to launch an independent wealth firm capable of delivering a complete and unique experience for clients and creating a model for growth. As part of that partnership, Elk River became the flagship firm for the WAGN Hub, a special network of WAGN-affiliated firms that will operate similarly and have access to WAGN’s specialty services as well as ongoing business, operational and growth support.

WAGN spearheaded the launch of Elk River in March, successfully navigating the challenges and uncertainties posed by the global pandemic. To ensure a complete services platform, WAGN took the lead on building a world-class network of specialists and ensuring the alignment of best-in-class talent, technology and infrastructure to allow Elk River to focus its time and resources on clients.

“WAGN took the time to align comprehensive services, key partners, and every detail of the business and back office,” said Chris Freimuth, CEO and Chief Investment Officer at Elk River Wealth Management. “Our launch and transition were a big success and our brand awareness and growth are on the rise.”

In addition, WAGN is a strategic advisor on growth opportunities, including the identification of potential acquisition and recruiting targets. Today’s announcement with David Carroll and Jon Springer marks the third deal WAGN has spearheaded for Elk River. The two earlier deals included the merger of Brooks Merrifield’s RIA, Merrifield & Company, at the time of the launch in March and the tuck-in of breakaway advisor Dan Owens in April to lead the firm’s Arizona office.

“We are on a mission to help build the best run, growth-driven firms in the industry,” said Jay Hummel, Founder & Partner at WAGN. “Strategic acquisitions are an essential piece to that vision – and we are excited about today’s deal as it reinforces the importance and attractiveness of having a complete offering.”

About Wealth Advisor Growth Network (WAGN)

WAGN works with RIAs to help them build the best run firms in the industry, deliver faster growth, and create more value for their clients.

For additional information, please visit: https://wagn.biz/