Merit acquires Connecticut firms managing $277 million
Ceponis Financial Group and Brook Wealth Management are both based in Fairfield County.
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.
[More: Merit Financial acquires two Colorado firms]
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