Merit Financial Advisors, a financial advisory firm based in the Atlanta area, has acquired Atlanta-based ClearBridge Wealth Management, the firms announced Wednesday.
ClearBridge oversees $300 million in client assets and provides investment management and financial services for individuals, families and business owners.
Preston Byers, founder of ClearBridge, said in a statement that the core values of the two firms align. “Merit’s strong back-office support team and extensive technology suite will allow me more time to connect with my clients,” he added.
Terms of the deal were not disclosed.
This acquisition marks Merit’s 22nd since it took a minority investment in December 2020 from Wealth Partners Capital Group.
Merit’s most recent acquisition was in August, when it acquired Reis Financial Services, adding $178 million in AUM and expanding Merit’s presence in Wisconsin.
“Preston’s expertise and focus on client service complements Merit's approach, and it is exciting to watch Merit build their Atlanta presence by partnering with such a talented advisor,” said WPCG principal, Nick Trepp.
Merit has more than 40 offices throughout the U.S. and managed approximately $9 billion in assets as of Sept. 30. The merger was finalized last Friday.
North American wealth deal count rises 20% but value drops as big-ticket transactions vanish.
Benchmark sale to Söderberg & Partners tightens wealth focus ahead of $13.5B US deal
A trustee says it has no record of the investor now suing it for $50 million
Legislation seeks to loosen access to private markets to include professional advice from RIAs and broker-dealers, not just income or net worth.
"I just feel like I can get a lot further [by] opening a 529 account," said one respondent to the BabyCenter survey on Trump accounts.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
