The US wealth management group has announced its third acquisition of the year.

Wealth Enhancement Group has agreed to acquire CLA Financial Advisors, a wealth management firm based in Northbrook, Illinois, for an undisclosed sum.

CLA has around $200 million in brokerage and advisory assets. Under the deal, which is expected to close in the first quarter of 2017, CLA's employees will become part of Wealth Enhancement Group.

The group’s regional president Kevin Meehan will continue to oversee growth and operations in the Chicago-area. Steve O'Hara, who founded CLA, will work with Meehan to accelerate regional development.

In March, Wealth Enhancement Group announced its acquisition of HHG & Company, a registered investment advisor based in Darien, Connecticut, with around $1.3 billion in client assets. In May, it announced its acquisition of Texas-based Sound Financial Solutions, which has $260 million in client assets. 

"The progress of this strategy in our Chicago region is promising, and the acquisition of CLA represents a significant milestone in continuing our success story. We look forward to building on the Chicago region's momentum and expect to surpass $1 billion in client assets in this market in the near future," said Jeff Dekko, chief executive of Wealth Enhancement Group.

Wealth Enhancement Group and its RIA, Wealth Enhancement Advisory Services, currently have over $6.3 billion in client brokerage and advisory assets.