Merit Financial Advisors, an Atlanta-based hybrid managing $6.1 billion, has acquired Ceponis Financial Group and Brook Wealth Management, which manage $174 million and $103 million, respectively.
Ceponis is based in Ridgefield, Connecticut, and Brook in Rocky Hill, Connecticut, both in Fairfield County, in the New York metropolitan area.
In addition to being a registered investment adviser, Merit is a large office of supervisory jurisdiction on the LPL Financial platform.
In its announcement, Merit noted that the two acquisitions are its ninth and 10th since December 2020, when Wealth Partners Capital Group and a group of strategic investors led by HGGC took a minority stake in the firm.
The Connecticut deals follow Merit's announcement last week that it had purchased a Wisconsin firm, Mersberger Financial Group, which manages $830 million and advises on $489 million in retirement assets.
Todd Bryant of Signature Wealth Partners on vanishing pensions, SECURE Act 2.0, and what clients really want to know.
Merrill's latest hires span Colorado to Louisiana, even as industry-wide recruiting data suggests the firm is losing almost as many advisors as it gains.
The $36 million buy allegedly hid inflated books and a $50 million diversion.
“An award citing emotional distress is very unusual,” an industry executive said.
New EBRI research found workers who participated in employer financial education reported higher confidence, literacy and financial satisfaction.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
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
