Announcing Investment in Wealth Enhancement Group

November 01, 2007

Minneapolis, Minnesota – Norwest Equity Partners (“NEP”), an equity investor focused on growing and profitable middle market companies, today announced that it has made a significant investment in Wealth Enhancement Group LLC (“WEG” or the “Company”), a financial planning and advisor services firm. NEP invested along with existing management shareholders in the transaction which closed on October 31, 2007. Financial terms were undisclosed.

WEG provides comprehensive, independent financial planning, investment management, tax strategies, insurance and estate planning services to “Mass Affluent” clients who are approaching retirement age. The Mass Affluent market includes individuals with between $500,000 and $3.0 million in net worth and between $100,000 and $1.5 million in investable assets. The Company currently manages over 25,000 accounts for approximately 7,000 clients with more than $2.0 billion in assets under management.  WEG is based in Wayzata, Minnesota and serves clients through a network of 10 branch office locations throughout the state of Minnesota. Additionally, WEG has recently expanded its services to the Des Moines, Iowa and Fargo, North Dakota areas.

Todd Solow, Principal at NEP and WEG board member, stated, “On behalf of NEP, we are excited to partner with Jeff Dekko and his management team in this transaction. WEG has a differentiated business model and targets the growing segment of the U.S. population consisting of baby boomers nearing retirement age. Through its centralized client acquisition strategy, weekly radio show and other direct marketing efforts, WEG has continued to realize proven success and set itself apart from other wealth management firms within its industry.”

Financial education is the cornerstone of the Company’s client acquisition activities. WEG positions itself as a thought leader and expert in financial planning through a variety of financial education marketing programs. WEG utilizes a range of channels to reach prospective clients and provide ongoing financial education to existing customers, including broadcast radio, seminars, publications and the Internet.  These efforts are designed to generate client interest in the Company while allowing prospective clients to maintain a certain level of anonymity until they decide to contact WEG.

Jeff Dekko, WEG Chief Executive Officer, stated, “Having an investment partner like NEP enables us to be better positioned to achieve our growth strategy.  Our unique approach drives very high satisfaction rates among our clients. The partnership with NEP will help us broaden the service we deliver to our existing clients and expand our geographical footprint in which we attract new clients.”

Houlihan Lokey Howard & Zukin served as financial advisor to WEG, and Lindquist & Vennum PLLP provided legal counsel. Faegre & Benson, LLP provided legal counsel to NEP.

For more information on WEG, please visit