Merit Financial acquires two Colorado firms

Tedstrom Wealth and I.M. Wealth Care are both in the Denver Area and add $381 million in assets to Merit.

Merit Financial Advisors, an Atlanta-based hybrid advisory firm managing $6.3 billion, has acquired Tedstrom Wealth Advisors and I.M. Wealth Care, two firms located in the Denver, Colorado, area that collectively manage $381 million.

I.M. Wealth Care has been an independent firm affiliated with Merit, a super office of supervisory jurisdiction for LPL Financial, for almost three years. Its team will be led by Kate Redden, who will be a managing partner at Merit.

Tedstrom Wealth Advisors was founded by Peter Tedstrom, who will become a regional director 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,” Rick Kent, founder and CEO of Merit, said in a statement.

Financial and legal terms of the deal were not disclosed. The acquisitions are Merit’s fourth and fifth since it received a minority investment in December 2020 from Wealth Partners Capital Group and a group of investors led by HGGC.