Merit Financial Advisors Announces New Minority Investment Partner, Fueling Next Chapter of Expansion

ATLANTA, July 7, 2025 /PRNewswire/ -- Merit Financial Advisors ("Merit"), an Atlanta-based, rapidly growing national wealth management firm with $19.94 billion in assets under advisement, including $14.06 billion in advisory, $2.6 billion in brokerage assets, $3.28 billion in retirement plan and ESOP assets, is pleased to announce a strategic minority investment from Constellation Wealth Capital (CWC), an alternative asset management platform focused on supporting the long-term growth of independent wealth management firms.

This investment comes at a pivotal time in Merit's growth trajectory, as the firm looks to scale its advisor platform and expand national reach amid rising demand for wealth management solutions. The partnership underscores CWC's strong belief in Merit's leadership, vision, and future potential.

This new partnership will help Merit continue its strategic expansion through both M&A and organic growth, support investment in next-gen advisor technology, advisor recruitment, practice management support and client experience initiatives, and reinforce its commitment to delivering high-quality, personalized financial planning and wealth management services to high-net-worth individuals, families, and those navigating life transitions.

"From the time we met with them, we knew CWC was the right partner to help take Merit into its next phase of growth," said Rick Kent, CEO of Merit Financial Advisors. "Their deep experience in the wealth management space, alignment with our culture, and long-term mindset made this an ideal match. Their investment structure preserves our independence and leadership continuity, which are critically important to our team, our clients, and our future."

With a robust M&A pipeline and eight acquisitions already completed in 2025, Merit now operates 40 offices nationwide and employs over 300 team members. This milestone showcases the firm's mission to build the RIA of the future-anchored by a relationship-first approach and scalable, advisor-centered infrastructure.

"This investment marks an exciting chapter in Merit's journey," said Kay Lynn Mayhue, President of Merit Financial Advisors. "CWC's support will allow us to accelerate our strategic initiatives and further strengthen our capabilities for our advisors and their clients. We remain focused on growing the right way through values-driven leadership and by empowering our team to thrive in service of others."

Clients can expect the same team, same philosophy, and the same high-quality service, now with even more resources to support their financial journeys. CWC's minority investment will bolster Merit's ability to expand its advisor platform, enhance client experience offerings, and continue to build out best-in-class technology, operations, and support-all while retaining its advisor- and employee-owned structure and leadership continuity.

"We are thrilled to partner with Rick, Kay Lynn, and the entire Merit team," said Karl Heckenberg, President & Managing Partner of Constellation Wealth Capital. "Merit has demonstrated a unique ability to scale while maintaining strong cultural cohesion, delivering exceptional service to clients, and attracting top advisor talent. We are confident that this partnership will fuel continued innovation and growth in the years ahead."

As part of this transition, Wealth Partners Capital Group (WPCG), which previously held a minority investment in Merit since 2019, and a group of strategic investors led by HGGC's Aspire Holdings platform, will be exiting its ownership stake. WPCG played an instrumental role in Merit's ascent and was a valued strategic partner.

"We are incredibly proud of the growth Merit has achieved during our five-year partnership," said Rich Gill, Co-Founder and Partner at Wealth Partners Capital Group. "It's been an honor to work alongside such a visionary leadership team and to see Merit become one of the most respected and fastest-growing firms in the industry. We are excited to see where the next chapter takes them and will be cheering them on every step of the way."

The transaction is expected to close in the third quarter of 2025. Merit will continue to operate under its current name and leadership, with no operational changes resulting from this transaction.

Ardea Partners LP served as lead financial advisor, assisted by William Blair, and Holland & Knight and Kirkland & Ellis served as legal counsel to Merit. Goldman Sachs & Co. LLC served as financial advisor and Gibson, Dunn & Crutcher served as legal counsel to Constellation Wealth Capital.

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. Merit exists to enrich the lives of those they serve, with a mission to revolutionize the client experience by building the RIA of the future. Merit provides personalized financial planning and investment management services to high-net-worth individuals, families, and clients in major life transitions. Based in Atlanta, Georgia, Merit has over 40 offices nationwide and managed $19.94 billion in assets under advisement, including $14.06 billion in advisory, $2.6 billion in brokerage assets, $3.28 billion in retirement plan and ESOP assets. For more information, visit www.meritfinancialadvisors.com.

About Constellation Wealth Capital
Constellation Wealth Capital (CWC) is an alternative asset management platform dedicated to the wealth management sector. CWC provides flexible, long-term capital solutions and strategic advisory support to scaled wealth management platforms, leveraging deep industry expertise and an extensive network of relationships to help partner firms accelerate growth and create long-term value. Learn more at www.ConstellationWealthCapital.com.

About Wealth Partners Capital Group
Wealth Partners Capital Group (WPCG) is a financial services holding company that invests in and partners with leading independent wealth management firms. WPCG supports its partner firms with strategic advice and helps facilitate growth by identifying like-minded advisors seeking expanded business capabilities, strategic growth opportunities, and tailored succession planning. For more information, visit www.wealthpcg.com.

About HGGC
HGGC is a values-driven, partnership-focused private investment firm. The firm's ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long-term value together. HGGC invests in technology, business services, financial services and consumer enterprises generally valued between $200M – $1.5B+. The firm is based in Palo Alto, CA and manages over $8 billion in cumulative capital commitments. Since its inception in 2007, HGGC has completed more than 700 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $80 billion. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. More information, including a complete list of current and former investments, please visit www.hggc.com.

SOURCE Merit Financial Advisors