Merit Financial Advisors has won Pocatello, Idaho -based Sanctanty -based asset management and his linked fiduciary services, which specialize in employee stock ownership plans.
The deal is the second of Atlanta -based Atlanta Merit and the second largest so farbringing to $ 1.6 billion in customer assets. Merit has reserved 34 purchases since a 2020 investment by Wealth Partners Capital Group and HGGC Aspire Holdings led by Aspire Holdings.
Sanctuary was started by Brett Robison in 1994, after which he was joined by owners Gene Clay Esplin and Joel Phillips, everyone will take roles as wealth managers in Merit. The firm works on investment counseling, portfolio management and pension counseling with corporate clients, including 401 (K) plans. Her seven -people team will also make the move to merit.
Merita President Kay Lynn Mayhue said by email that the team's growth strategy and the client's engagement stood out, as well as its trail, which helps to expand Merit services to the western half of the United States.
Fiduciary services, a sankuly branch, will deserve an Esop practice that includes trusted transactions and services.
“Esops can be a great tool for business owners,” Mayhue said. “This will allow us to offer an additional area of expertise to our existing business owner clients as well as new business owners.”
Merit can also help in financial planning for employees when plans “have liquidity events,” Mayhue said.
For Sanctuary, Merit will provide support from the back and administrative office and its technology for clients.
The deal, which was finalized on March 14, is the second of Merit since behavior Vice president of strategic partners David Wahlen, a chapter student who oversees M&A work in coordination with CEO Rick Kent and Mayhue.
Merit has over 40 offices in the US and manages $ 12.27 billion, including $ 9.9 billion under management, $ 2.05 billion in brokerage assets and $ 332 million under counseling.