Wealth Enhancement's Bold Move: Acquiring First International Bank's Wealth Services

In the ever-evolving landscape of wealth management, acquisitions are often the strategic chess moves that define a firm's trajectory. Wealth Enhancement, a national independent wealth management firm, has made a significant play by acquiring the Wealth Services Division of First International Bank & Trust. This move, announced on March 31, 2025, marks Wealth Enhancement's first foray into North Dakota, expanding its footprint to 34 states nationwide. The acquisition, which includes over $581 million in client assets, is more than just a geographic expansion; it is a strategic maneuver to bolster Wealth Enhancement's service offerings and meet the growing demand for trust and estate planning services.



The Wealth Services Division of First International Bank & Trust offers a suite of services that align perfectly with Wealth Enhancement's client-centric approach. These services include personal trust and estate planning, as well as asset management services in mineral, investment, and farmland management. The acquisition allows Wealth Enhancement to offer a more comprehensive range of services to its clients, positioning itself as a true family office. As Jeff Dekko, CEO of Wealth Enhancement, stated, "As clients increasingly seek expanded wealth management offerings, our firm remains committed to evolving and expanding our services to meet their needs."

The acquisition is not just about expanding service offerings; it is also about strengthening Wealth Enhancement's capabilities in trust services. Trust services are a critical component of being a true family office, and this acquisition will allow Wealth Enhancement to continue strengthening its capabilities for its largest multi-generational family relationships. Jim Cahn, Chief Strategy Officer of Wealth Enhancement, noted, "Trust services is a critical component of being a true family office, and we are excited to continue strengthening our capabilities for our largest multi-generational family relationships."

The acquisition also aligns with the increasing demand for trust services, particularly from clients such as baby boomers who are selling businesses and have more complex estate planning needs. Cahn mentioned, "We’ve definitely seen an uptick from clients for trust services. There are more clients such as baby boomers who are selling businesses, and they have more complex estate planning needs, and part of that estate planning often involves trust services."

The acquisition of First International Bank & Trust’s Wealth Services Division by Wealth Enhancement is a strategic move that aligns with their goals of expanding into new markets, enhancing service offerings, strengthening trust services, meeting client needs, aligning with company values, and increasing assets under management. The acquisition is a testament to Wealth Enhancement's commitment to providing comprehensive wealth management solutions to its clients. As the wealth management landscape continues to evolve, Wealth Enhancement's acquisition of First International Bank & Trust’s Wealth Services Division is a bold move that positions the firm for future growth and success.