Merit Financial Advisors has sealed its second deal in as many weeks as it unveils another strategic partnership in the Pacific Northwest.
On Tuesday, the firm revealed it has acquired Roth Asset Management, expanding its presence in Oregon and adding $773 million in assets.
The acquisition marks Merit's thirtieth deal since receiving a minority investment from Wealth Partners Capital Group and HGGC's Aspire Holdings platform in 2020.
Roth Asset Management, based in Lake Oswego, Oregon, focuses on corporate 401(k) plans, investment advisory, and portfolio management. As part of the partnership, the firm's president, Steven Roth, will take on a new role as a wealth manager within Merit.
"When I was evaluating acquisition partners, Merit stood out for its team-based, collaborative approach," Roth said in a statement Tuesday. "I eagerly anticipate collaborating with the talented team at Merit to enhance efficiency and better serve my clients moving forward."
The partnership will also allow Roth Asset Management to expand its retirement and group insurance services by integrating new technologies in Merit's ecosystem, which includes its November partnership with estate planning tech platform wealth.com.
"Our commitment to expanding Merit's West Coast presence continues to be a priority, and we are thrilled to partner with Steven," said Tait Lane, managing principal at Merit. "With over 20 years of experience working with ultra-high-net-worth clients and managing corporate retirement plans, Steven brings a wealth of expertise that will enhance our capabilities in these areas."
Headquartered in Atlanta, Merit operates over 40 offices across the US and managed $11.84 billion in assets as of June 30.
Its acquisition of Roth Asset Management follows its integration of Trinity Financial Partners earlier this month, which added approximately $603 million in assets and a third Pennsylvania office.
Merit was also an OSJ within LPL's network, a relationship that had existed for nearly 15 years since 2010, prior to Merit's decision to cut ties earlier this year.
“When you have a custodial and clearing partner that you’re not aligned with, and you have a fast growing business and give priority to your clients and advisors, you have to make some tough decisions,” Kay Lynn Mayhue, Merit Financial’s president told InvestmentNews senir columnist Bruce Kelly in an interview. “It made the most sense for us to make this decision.”
AI is no replacement for trusted financial advisors, but it can meaningfully enhance their capabilities as well as the systems they rely on.
Prudential's Jordan Toma is no "Finfluencer," but he is a registered financial advisor with four million social media followers and a message of overcoming personal struggles that's reached kids in 150 school across the US.
GReminders is deepening its integration partnership with a national wealth firm, while Advisor CRM touts a free new meeting tool for RIAs.
The Texas-based former advisor reportedly bilked clients out of millions of dollars, keeping them in the dark with doctored statements and a fake email domain.
The $3.3 trillion tax and spending cut package narrowly got through the upper house, with JD Vance casting the deciding vote to overrule three GOP holdouts.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
