Greater Minneapolis-based Wealth Enhancement Group, which has 40 financial advisors, offers financial planning and investment management strategies across 40 states to affluent and high net worth retail clients. The firm also provides retirement plan advisory services for qualified and non-qualified employer-sponsored retirement plans.    

Going forward, the Summit Wealth Advisors team will operate under the Wealth Enhancement Group brand, and will continue to be led by Kevin Meehan, founder of Summit Wealth Advisors and a financial services veteran with 28 years of experience. Meehan has been named Wealth Enhancement Group's regional president for Chicago.

Financial terms of the transaction were not disclosed.