Wealth Enhancement Buys $462 Million Cloud Investments, Entering Alabama

3 articles · Updated · PR Newswire · Jul 30

Cloud Investments' advisory business is set to join Wealth Enhancement in a deal expected to close July 31, giving the buyer its first offices in Alabama.
The Alabama RIA manages more than $462 million in client assets across Huntsville, Florence and Gadsden, with a team of five advisors and six support staff led by Don Cloud.
Wealth Enhancement said the acquisition will lift its total client advisory, trust and brokerage assets to more than $158.9 billion and expand its footprint beyond 188 offices nationwide.
Cloud Investments, founded in 2006, serves individuals, families, professionals and business owners in North Alabama, including clients tied to the region's defense and aerospace industries.

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PR Newswire7d ago

Wealth Enhancement Acquires Cloud Investments, Expands to Alabama

Institutional Real Estate, Inc.6d ago

Wealth Enhancement to Acquire Cloud Investments, Adding $462M in Client Assets in Alabama

Wealth Management6d ago

Wealth Enhancement Acquires $462M Cloud Investments, Establishes First Alabama Presence

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With the deal closing tomorrow, will Cloud Investments' defense sector clients embrace this massive national takeover or seek local alternatives?

As Wealth Enhancement surpasses 188 offices, does this aggressive expansion signal the impending extinction of the truly independent local financial advisor?