In another example of busy US wealth management M&A, the latest example of an acquired firm involves one that is in the heart of Los Angeles.

Wealth Enhancement Group, which oversees more than $70.5 billion of client assets, has acquired KCS Wealth Advisory, an independent RIA based in Los Angeles.

The addition of KCS Wealth Advisory adds another office location to the Los Angeles area, increasing the number of Wealth Enhancement Group offices in the state of California to 17. 

Led by managing partners Laura Gilman and Ken Waltzer, the team will bring about $373 million in assets under management. Since 2004, each of the founders have had their own individual financial practices and, in 2014, they merged their firms to form KCS Wealth Advisory. 

The move is yet another example of brisk wealth management M&A activity in North America, as demonstrated by quarterly data from ECHELON Partners, here.