Merit Financial Advisors is bolstering its presence in the Pacific Northwest with a new acquisition. The Atlanta-based RIA has purchased Viren and Associates Inc., a move that brings over $542 million in assets to Merit and marks a key expansion for the firm in the region.
The practice, founded by its namesake duo Paul and Beth Viren in Spokane, Washington, is built upon an expertise in financial planning, retirement plans, life and disability insurance, and group employee benefits.
The firm is led by Paul Viren, who leverages his 30 years of experience and numerous planning designations to provide clients with tailored financial solutions.
The acquisition of Viren and Associates Inc. sees the entire team, including two additional financial planners and client support staff, joining Merit’s network from Mariner Independent Advisor Network, an RIA arm of LPL.
“Merit’s commitment to excellence and providing world-class service to its clients is highly appealing and fully aligns with the brand that Viren has successfully built over the past few decades,” Paul Viren said in a statement.
“The strategic partnership between Merit and Viren is a major milestone that sets Merit up for significant future success, specifically with the expansion of Merit’s qualified retirement plan and advanced insurance service offerings,” said Tait Lane, regional director and partner at Merit.
The Viren acquisition is Merit’s twenty-fifth since December 2020, following a minority investment from Wealth Partners Capital Group and a consortium led by HGGC's Aspire Holdings platform. Terms of the deal, which closed on March 8, were not disclosed.
The merger comes shortly after the wealth firm unveiled a new affiliation model, Merit Amplify, that allows advisors to explore the benefits of partnering with the firm without giving up their autonomy.
“We created Merit Amplify in response to increasing inquiries from firms seeking to maintain ownership while leveraging the capabilities of a larger firm, especially in areas such as investment management,” Kelly Straub, managing partner of Merit Amplify, said during the launch.
In late December, Merit acquired a fellow Georgia-based firm, ClearBridge Wealth Management, adding $300 million in assets to its book of business.
Advisors can set their practice apart and win more business with a powerful graphic describing their unique business and value proposition.
The Labor Department's reversal from its 2022 guidance has drawn approval from crypto advocates – but fiduciaries must still mind their obligations.
With $750 million in assets and plans to hire a RIA Growth Lead, Autopilot is moving beyond retail to court advisors with separately managed accounts and integrations with RIA custodians such as Schwab and Fidelity.
Elsewhere on the East Coast, a Boca Raton-headquartered shop has acquired a fellow Florida-based RIA in "a natural evolution for both organizations."
After advising on nearly $700 million in retirement assets, 27-year veteran Greg Mykytyn is bringing his expertise in ESOP and 401(k) plans to the national RIA in Texas.
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.
