Biltmore Capital Advisors, a registered investment adviser managing $557 million, and its sister company, Stone Creek Capital Management, which offers a range of consulting services, have merged into Merit Financial Advisors, a diversified Atlanta, Georgia-based financial advisory firm managing $5.59 billion.
Terms of the transaction were not disclosed.
Biltmore and Stone Creek are based in Boca Raton, Florida, and Princeton, New Jersey. Stone Creek, which offers services to those seeking margin lending, portfolio reporting, research, and other consulting services, will continue to operate as a stand-alone business line within Merit, the company said in a release. Biltmore and Stone Creek are led by D. Tyler Vernon and Timothy Ralph, both of whom will assume new roles at Merit and will be joined by their entire team.
The firm's flagship fund, which invests in stocks, bonds, currencies, and commodities, saw accelerated gains as some peers lost ground.
Policy proposal offers recommendations on dual-share class funds, semi-transparent ETFs, and expanded flexibility for closed-end funds to include private market assets.
With bonds failing to provide a safety net for steeply falling stock prices, many investors are letting go of their "set it and forget it" approach.
Sneak peek into annual defined contribution plan report shows average participant balances reached an all-time high amid rising equity markets.
The iconic actor's death alongside his wife, Betsy Arakawa, leaves pressing questions about what happens next to his assets.
In an industry of broad solutions, firms like intelliflo prove 'you just need tools that play well together'
Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies