Merit Financial has continued its M&A spree, expanding into the Detroit metropolitan area with the acquisition of former Commonwealth practice TL Financial Group.
The Georgia-based RIA has been on something of an acquisition tear, as evidenced by the recent deal for SSC Wealth, which followed the acquisitions of Blueprint Wealth Advisors, Mennenga Tax & Financial, Global Wealth Advisors, and Safeguard Wealth Management last year.
TL Financial, which was founded by Tony LaJeunesse, brings approximately $217 million in total assets to Merit. LaJeunesse, who served as TL Financial’s president, has joined Merit as wealth manager, area director, and partner, along with his seven-strong team of advisors and support staff.
“Detroit is the comeback city,” LaJeunesse told InvestmentNews, adding that his practice serves “tons” of clients from the automotive sector, as well healthcare, manufacturing, and small business owners.
Detroit, which had suffered years of economic decline, filed for the biggest municipal bankruptcy in American history in 2013. Since then, the city has enjoyed an impressive revival, boosted by a slew of investment and urban regeneration projects.
Total GDP for the Detroit-Warren-Dearborn metropolitan area was $331.3 billion in 2023, up from $225.2 billion just 10 years earlier and $182.8 billion in 2009. “There’s a lot more [wealth in Detroit] than what you think,” said LaJeunesse.
“I work for a ton of my [former] colleagues – that really catapulted my practice,” he added.
LaJeunesse said that he interviewed eight different firms before he chose Merit, noting that the company “lines up beautifully” with TL Financial’s culture. “It’s what we do for the client that is most important,” he added.
“As you kind of look at our growth strategy, larger metropolitan markets are attractive for us to have a presence in,” Zach Mersberger, Merit’s managing principal and partner, told InvestmentNews.
Mersberger said that, after the TL Financial acquisition there will be “a few more that are in line” that will be “coming over” later this year.
Other recent transitions to Merit from Commonwealth include Alex Hansen, the company’s new chief advisor success officer, as well as Blueprint Wealth Advisors and Global Wealth Advisors.
Merit has previously predicted around 15 acquisitions this year. As of Jan. 1, 2026, the RIA managed $24.69 billion in assets
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