Wealth management firm Wealth Enhancement is acquiring the wealth services division of Watford City, N.D.-based First International Bank & Trust.
A company with a national footprint Wealth Enhancement oversees $107.5 billion in client assets. FIBT’s wealth management team oversees $581 million in client assets, and offers personal trust and estate planning services as well as asset management services for minerals, investments and farmland. The division serves clients in Arizona, Minnesota, South Dakota and other states.
FIBT’s wealth services division will transition to Wealth Management affiliate Wealth Enhancement Trust Services, LLC. The independent trust has been part of the full-service offerings of Wealth Enhancement since 2021.
FIBT expects to continue offering mineral and land services and enterprise retirement solutions. “We took great care in selecting a firm that would share the same wealth management philosophies and company values,” said FIBT CEO Peter Stenehjem. “Wealth Enhancement’s client-centric approach and wide range of sophisticated services will elevate the scope of services clients will have access to while maintaining a focus on relationships.”