Apr 05, 2022, 10:00 ET
The two partnerships establish Merit's presence in Colorado and increase the firm's acquired assets by $381 million
ATLANTA, April 5, 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 Tedstrom Wealth Advisors, Inc. ("Tedstrom Wealth") and I.M. Wealth Care, LLC ("IMWC"). The firms, which are located in the Denver area, will establish Merit's presence in the region.
Tedstrom Wealth Advisors, founded by Peter Tedstrom, CFP®, is an advisory firm with a focus on wealth management and financial planning. Mr. Tedstrom has more than 38 years of experience servicing clients across the country and has been recognized as one of the industry's top financial advisors. Peter will assume the role of Regional Director at Merit.
"I'm thrilled our team is joining forces with Merit Financial Advisors. We evaluated a number of different potential partners, but Merit's team checked all the boxes," said Peter. "This transition will allow our team to centralize select operations, deliver economies of scale and provide more time for my team to personally connect with clients and prospects."
IMWC specializes in financial planning, investment management, and business consulting, including the design and management of company retirement plans. The firm, which has offices in Greenwood Village and Colorado Springs, Colorado, has been an Independent Advisor Partner of Merit's for nearly three years. IMWC will continue to leverage Merit's back-office and operational expertise and the team will be led by Kate Redden, CFP®. With more than 20 years of financial services experience, Kate will assume the role of Managing Partner at Merit.
"Merit has been a supportive partner of I.M. Wealth Care, and we were eager to formalize our partnership," said Kate. "The firm has been essential to our growth, and our expanded relationship also means we'll be offering enhanced services for our clients. We are looking forward to working with the Tedstrom team to bolster Merit's presence in Colorado."
"We are extremely pleased to welcome the I.M. Wealth Care and Tedstrom Wealth teams to Merit Financial Advisors," said Rick Kent, CEO and Founder of Merit. "Establishing a strong presence in the Denver area has been a priority of ours for quite some time, and these teams bring the perfect mixture of experience, thriving businesses, and strong community roots to make this happen."
These are Merit's fourth and fifth acquisitions since taking a minority investment in December 2020 from Wealth Partners Capital Group ("WPCG") and a group of strategic investors led by HGGC. Earlier this year, Merit announced its acquisition of Biltmore Capital Advisors and Stone Creek Capital Management which added $557 million in assets under management and a new line of business that facilitates margin lending, reporting, and consulting services to families, representing $1.6 billion in assets.
"The acquisition of Tedstrom Wealth Advisors and IMWC continues to expand Merit's position as one of the leading hybrid advisory firms in the country," said Rich Gill, Founding Partner of WPCG. "We are confident that with the leadership of Kate, Peter and their teams, Merit will grow its footprint in the Denver market."
The mergers, which were finalized on March 31, 2021, collectively increase the firm's acquired assets by $381 million. 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 25 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. Since its inception in 2007, HGGC has invested in a variety of opportunities, including those in financial services and wealth management. More information is available at hggc.com.
SOURCE Merit Financial Advisors
Share this article