True Wealth & Co. Sells To Minnesota-based $5.7B AUM Wealth Firm

Posted January 11, 2024

Overland Park-based True Wealth & Co. LLC will merge with Minnesota-based Intellicents, adding $158 million in assets under management to the Minnesota firm.

The owners of True Wealth, CEO Bryan Sarff, CFO Kenny Burkhead and personal wealth manager Brian Paulsen, announced they sold a majority stake in their company last week to the large advisory firm. In the coming months, True Wealth will be transitioning and re-branding itself under the Intellicents name.

“This collaboration not only fortifies Intellicents’ wealth management division, but also expands our capabilities to serve our clients, augmented by the strong Intellicents brand,” Sarff said.

Intellicents, which operates with $5.7 billion AUM, offers fiduciary retirement plan services for plan sponsors and participants, wealth management, worksite financial planning, and insurance consulting. The company was founded in 1974.

“The True Wealth team aligns with our core values and commitment to comprehensive financial planning as a staple of our Wealth Management services,” Intellicents president of wealth management Nick Madl said. “As we continue on our path of worksite financial planning as the next big thing in employee benefits, it’s important we have the team and infrastructure to also serve business owners and executives. The Personal CFO model of True Wealth brings additional services that will be an integral piece as we continue to enhance the client experience.”

Intellicents currently has offices in Albert Lea, Minnesota; Pella and Lake Mills, Iowa; Tacoma, Washington; Golden, Colorado; Southlake and Austin, Texas.

The firm also operates offices in Overland Park and Lawrence, Kansas. The Overland Park branch will gain six new teammates as part of the merger.