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.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.
Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
