Merit Financial Advisors Expands with Sanctuary Wealth Partnership
Merit Financial Advisors Expands Presence Through Strategic Acquisition
Merit Financial Advisors is thrilled to announce a significant milestone in its journey as a premier financial advisory firm. The company has successfully merged with Sanctuary Wealth Management and its subsidiary, Fiduciary Services. This strategic move positions Merit to not only enhance its service offerings but also to broaden its geographical footprint.
The Significance of the Merger
With this merger, Merit gains an impressive collective asset base of approximately $1.6 billion, which is a substantial addition to its portfolio. This expansion allows Merit to enhance its capabilities in wealth management, particularly among high-net-worth individuals and families, while also catering to corporate clients through advanced retirement and investment solutions.
About Sanctuary Wealth Management and Fiduciary Services
Sanctuary Wealth Management is noted for its proficiency in investment advisory and portfolio management, delivering exceptional service to both private and corporate clients. Fiduciary Services, a key player in the acquisition, specializes in employee stock ownership plans (ESOPs) and provides valuable support as transactional and ongoing ESOP trustees. This acquisition enables Sanctuary's team to tap into Merit's extensive technology resources and back-office support.
Meet the New Wealth Managers at Merit
The seasoned professionals from Sanctuary—Brett Robison, Gene Clay Esplin, and Joel Phillips—will transition to roles as Wealth Managers at Merit. Their vast experience and specialized knowledge will undoubtedly contribute to the continued excellence that Merit's clients have come to expect.
Leadership Insights on the Acquisition
Brett Robison expressed excitement about the merger, stating, "We are incredibly optimistic about the future and the enhanced services we will be able to provide as a result of this merger. Our collaboration with Merit opens up a world of possibilities that we are eager to explore alongside our clients." This sentiment reflects the enthusiasm and commitment shared by both firms in this venture.
Continued Growth and Expansion Strategy
This acquisition marks Merit's thirty-fourth strategic move since its first minority investment in December 2020 by Wealth Partners Capital Group and strategic investors including HGGC's Aspire Holdings platform. Earlier, Merit broadened its services by acquiring Hershey Wealth Advisors, which expanded assets by $233 million.
The Vision Ahead
Tait Lane, Managing Principal and Partner at Merit, elaborated on the merger, highlighting, "With more than 20 years of experience serving high-net-worth clients and corporate clients, our new leadership team will elevate our expertise across service areas. We aim to significantly strengthen our corporate offerings, particularly through our partnership with Fiduciary Services, which aligns perfectly with our commitment to delivering comprehensive financial solutions."
Finalization of the Merger
As of March 14, 2025, this merger was officially finalized, marking a new chapter for both firms. While the financial specifics of the deal remain confidential, the implications for growth and enhanced client service promise to be significant.
About Merit Financial Advisors
Merit Financial Advisors is known for its innovative approach in wealth management, particularly in the independent broker-dealer and RIA models. With a mission to enrich lives and reshape the client experience, Merit boasts over 40 offices nationwide and managed a robust $12.27 billion in assets at the end of the previous year. For potential clients and partners interested in learning more about Merit's offerings, visiting their website is encouraged.
Frequently Asked Questions
What is the significance of the merger between Merit and Sanctuary?
The merger represents a significant expansion for Merit, adding $1.6 billion in assets and enhancing wealth management services.
Who are the key players involved in the merger?
Key players include Brett Robison, Gene Clay Esplin, and Joel Phillips from Sanctuary, who will become Wealth Managers at Merit.
How will this merger impact clients of both firms?
Clients will gain access to enhanced services, expanded resources, and improved technology support, increasing the overall client experience.
What types of services does Merit offer?
Merit offers a wide range of services including wealth management, investment advising, and retirement solutions for individuals and corporate clients alike.
How does this merger align with Merit's growth strategy?
This merger is part of Merit’s ongoing strategy to expand its reach and capabilities, allowing it to serve more clients effectively across various regions.
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