May 09, 2022, 09:00 ET
Merit adds three new offices and $370 million in acquired assets under management
ATLANTA, May 9, 2022 /PRNewswire/ -- Merit Financial Advisors ("Merit"), a Georgia-based financial advisory firm that specializes in financial planning and wealth management solutions for high-net-worth individuals and families and those navigating life transitions, today announced it has acquired Union Financial Advisors, LLC ("Union"). The firm, which has offices in Tulsa, Norman, and Perry, Oklahoma, will establish Merit's presence in the region and increase acquired assets by $370 million.
Union specializes in providing financial planning services for small business owners, retirees, medical professionals and business executives. The firm has been an Independent Advisor Partner of Merit's since January 2021 and will continue to leverage Merit's back-office and operational support. Union is led by Steven Henderson, CPA, PFS, CFP®, CKA®, Douglas Morris, CFP®, and Stephen Regouby, CFP®. They will assume new roles at Merit and be joined by their team. Henderson and Morris will serve as Co-Regional Directors and Regouby will assume the role of Managing Partner.
"Merit has proven to be a wonderful partner for us over the past year. Our team is deeply rooted in Oklahoma, and we are delighted to plant Merit's flag in our community," said Henderson. "Formalizing our partnership is in the best interest of our clients and we are confident that Merit will help us achieve our growth aspirations," said Morris.
"The Union team brings an incredible amount of financial planning and tax experience, and we are thrilled to formally welcome them to Merit Financial Advisors," said Rick Kent, CEO, and Founder of Merit. "We know that Steven, Doug and Steve are well-positioned to cultivate our presence in Oklahoma."
This is Merit's sixth acquisition since taking a minority investment in December 2020 from Wealth Partners Capital Group ("WPCG") and a group of strategic investors led by HGGC, leveraging its Aspire Holdings platform. Last month, Merit announced its acquisition of Tedstrom Wealth Advisors and I.M. Wealth Care, which added $381 million in acquired assets and established its presence in Denver, Colorado.
"The Union team is a fantastic addition to Merit, and is poised to lead the charge in Oklahoma," said Rich Gill, Founding Partner of Wealth Partners Capital Group. "Merit's explosive growth is without a doubt due to their company culture and operational expertise."
The merger was finalized on April 30, 2022. Financial and legal terms of the deal 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 28 offices throughout the U.S. and managed $6.3 billion in assets as of April 1, 2022 ($4.45 billion in advisory, $1.72 billion in brokerage assets and with $112 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 has partnered with Merit Financial Advisors ("Merit"). WPCG supports Merit by identifying and integrating like-minded registered investment advisers and financial advisers 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 $5.6 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.
SOURCE Merit Financial Advisors
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