$10B Merit sharpens growth focus with new M&A lead

Merit Financial Advisors is solidifying its growth strategy as it makes a key hire to drive its continued expansion.

On Thursday, the top-ranked RIA announced the appointment of David Wahlen as vice president of strategic partnerships, a newly created position aimed at supporting the firm's mergers and acquisitions strategy.

In his new role at Merit, Wahlen will lead efforts to build relationships with potential partners, investment bankers, and other stakeholders.

“As Merit continues to grow and evolve its offering, we are investing in our people to propel the firm to the next level,” Rick Kent, CEO of Merit Financial Advisors, said in a statement Thursday.

Wahlen brings significant M&A experience to the role, having played a key part in more than 50 transactions during his tenure at Captrust, which officially crossed the $1 trillion AUM milestone last year. During his time, he helped grow Captrust’s wealth assets under management from $5 billion to $80 billion between 2018 and 2024.

At Merit, Wahlen will collaborate with Kent and President Kay Lynn Mayhue to streamline onboarding processes and strengthen partnerships with newly acquired firms.

“David’s deep industry knowledge and collaborative approach will be invaluable as we further expand our M&A efforts,” said Kent.

Wahlen said he was drawn to Merit’s mission and values.

“Merit’s culture and mission resonate strongly with me,” he said. “I am excited to bring my experience and network to a firm that is poised for significant growth and to contribute to building the RIA of the future.”

Merit’s creation of the role reflects the firm’s commitment to scaling its leadership to match its growth trajectory. Over the past year, Merit has added key executives to its leadership team, including ex-Carson Group leaders Samantha Allen and Brian Greene as executive vice president of marketing and managing operating principal, respectively; Johnson Financial Group alum Brian Andrew as chief investment officer; and John Cote, formerly with Wealth Enhancement Group, as its chief growth officer.

Founded in 1998, Merit has acquired more than 40 firms and surpassed $10 billion in client assets. In 2024 alone, the RIA added Trinity Financial Partners, Roth Asset Management, and Zimmermann Investment Management & Planning, collectively contributing more than $2 billion in assets.

Mayhue emphasized the importance of bolstering leadership as the firm expands.

“We know how important it is to have the right people in the right roles to help our firm and our advisors thrive,” she said.