Industry News

Wealth Enhancement buys $516m Dallas RIA

Alec Rich / Mar 28, 2025
The move bolsters Wealth Enhancement's presence in the Dallas-Fort Worth Metroplex and continues a busy month for the RIA giant after it most recently agreed to buy $4.3bn Marcum Wealth.
Serial RIA acquirer Wealth Enhancement (WE) continues to make dealmaking waves in the first quarter of 2025, this time expanding its Texas footprint. 
WE revealed Friday that it has acquired XO Wealth Management, a Dallas-based RIA that manages more than $516m in client assets. Specific financial terms of the deal were not disclosed. 
The firm is led by Matthew Fuller, who founded XO in 2016. He is accompanied by managing director Stephen Valelly and first vice president Carl Carlos, along with three support staff. XO specializes in working with high net worth and ultra high net worth individuals, entrepreneurs, and business owners. The firm had around 600 clients according to its final Form ADV, which was filed in January. 
‘We are excited to team with Wealth Enhancement, a nationally recognized firm in the industry,’ Fuller stated. ‘Joining forces allows us access to resources that will enable us to expand the capabilities we can offer to our clients.’ 
Prior to founding XO, Fuller was a senior...
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