Growing RIA firm adds $460 million in assets under management
ATLANTA, May 23, 2023 /PRNewswire/ -- Merit Financial Advisors ("Merit"), a Georgia-based financial advisory firm specializing in financial planning and wealth management solutions for high-net-worth individuals and families and those navigating life transitions, today announced it has partnered with Planned Futures, LLC ("Planned Futures"). Planned Futures, based in Williamsport, Pennsylvania, will expand Merit's presence in the region and increase assets by approximately $460 million.
Planned Futures provides investment management and retirement planning strategies for state employees and mass affluent clients. The firm is led by James Arnold and John Keene, Jr., who will assume new roles at Merit as Regional Directors and Partners. They will be joined by their team of more than 10 professionals.
"Our company culture and client service are extremely important to us. We knew we had to find a partner with the same priorities in order to form a successful partnership," said James. "We have found this with Merit, who will provide us with the necessary back-end support and tools to fuel our growth and enable us to better serve our clients," added John.
This is Merit's nineteenth acquisition since taking a minority investment in December 2020 from Wealth Partners Capital Group ("WPCG") and a group of strategic investors led by HGGC's Aspire Holdings platform. Earlier this year, Merit acquired TFG Wealth Management, INVEX Financial, and WealthPlan, which added a total of $424 million in assets and two new offices in Pennsylvania.
"Expanding Merit's presence in Pennsylvania has been a focus for some time, and we are very pleased to have James and John lead the charge," said Rick Kent, CEO, and founder of Merit. "Their team's expertise, service offerings, and culture align exceptionally well with our core values; we are incredibly synchronized in nearly every aspect."
"We're excited to watch Merit expand into Pennsylvania with the Planned Futures team. James and John's successful business stems from their dedication to excellent client service and their drive for high-quality solutions; their client-first mentality makes them a perfect fit with Merit," said Nick Trepp, Principal of WPCG.
The merger was finalized on May 19, 2023. Financial and legal terms of the deals were not disclosed.
About Merit Financial Advisors
Merit Financial Group, LLC, doing business as Merit Financial Advisors ("Merit"), is a national wealth management firm that supports both the independent broker-dealer and RIA models. Based in Atlanta, Georgia, Merit has 40 offices throughout the U.S. and managed $8.1 billion in assets as of March 31, 2023 ($5.8 billion in advisory, $2.3 billion in brokerage assets and $63 million in assets under advisement).
For more information, please visit www.meritfinancialadvisors.com.
Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Merit Financial Group, LLC, an SEC-registered investment adviser. Merit Financial Group, LLC, Merit, Merit Financial Advisors are separate entities from LPL Financial.
About Wealth Partners Capital Group
Wealth Partners Capital Group ("WPCG") is a financial services holding company, which invests in and partners with select leading wealth management firms. WPCG assists its partner firms by identifying and integrating like-minded registered investment advisors and financial advisors who are seeking access to expanded business capabilities, strategic growth and customized transition solutions. For more information, please visit www.wealthpcg.com.
HGGC is a leading middle-market investment firm based in Palo Alto, Calif. with over $6.9 billion in cumulative capital commitments. HGGC is focused on partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. More information is available at hggc.com.
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SOURCE Merit Financial Advisors