The M&A train is rolling for a third straight day this week, with Merit Financial leading the way as it reaches a critical landmark in its inorganic growth strategy.
Merit Financial Advisors, based in Atlanta, has completed its fiftieth acquisition by bringing Maryland’s Obsidian Planning Solutions into the fold. The deal adds $476 million in assets and marks Merit's first offices in Maryland, with locations in Rockville and Columbia.
Obsidian’s team, led by Patrick Carroll and Todd Feldman, specializes in business succession planning for business owners – a focus that aligns with the ongoing generational wealth transfer among US entrepreneurs.
Tyler Vernon, managing principal and partner at Merit, said Obsidian’s expertise “enables Merit to expand our offering to this underserved market,” and noted the alignment with Merit's mission to serve business owners facing succession and transition needs.
The transaction follows Merit’s recent acquisition of Second Half Financial Partners, a Florida-based firm with an emphasis on supporting first responders.
Merit also recently got additional fuel for its growth strategy with Constellation Wealth Capital coming in as a new private equity partner in July.
Obsidian’s partners emphasized the operational benefits of the move. Todd Feldman said in a statement that the partnership is “a crucial part of our strategy,” while Patrick Carroll added that joining Merit allows the team to “optimize staffing and leverage Merit's operational support.”
The deal closed on October 3, with financial terms undisclosed.
Houston-based Americana Partners is expanding beyond Texas once again, acquiring Nashville’s Goodpasture Gray and adding over $300 million in client assets.
The move, which targets the sports and entertainment segment, is Americana’s second out-of-state acquisition this year, following its March deal with California-based Boulevard Family Wealth.
W.L. Gray, who leads the Goodpasture Gray team, said the merger was a “natural next step,” citing shared values and the ability to deliver expanded resources to clients. “Nashville is booming, and this partnership allows us to meet that moment at scale,” Gray said. A
mericana CEO Jason Fertitta highlighted the strategic value of the acquisition, noting that establishing a Nashville presence “opens exciting new opportunities in one of the nation’s most dynamic markets.”
The Goodpasture Gray team will continue to operate locally under the Americana banner, with no immediate plans for a physical Nashville office.
BIP Wealth, an Atlanta-based RIA, has acquired Prehmus Financial Partners, a firm with more than $900 million in assets under management.
The deal pushes BIP Wealth’s total AUM above $5 billion and expands its presence across metro Atlanta, adding a team known for its investment management and financial planning expertise.
Prehmus Financial founder Warren Prehmus said the focus from the outset was on how the partnership would benefit clients and team members.
“BIP’s client-first approach aligns perfectly with our values and priorities while expanding our operational capacity,” Prehmus said.
This is BIP Wealth’s first major acquisition since a strategic partnership it inked last year with The Money Advisor Group, which is also based in Georgia.
It also comes after the firm named Georgia Tech baseball legend Danny Hall as vice president of strategic growth.
The Prehmus deal, finalized on September 30, brings all Prehmus team members into BIP Wealth and continues the firm’s strategy of partnering with established, respected RIAs in the Southeast.
(Correction: A previous version of this story incorrectly stated details of BIP Wealth's first acquisition.)
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