Merit Financial Advisors (“Merit”), a Georgia-based financial advisory firm that specializes in financial planning and wealth management solutions for high-net-worth individuals and families and those navigating life transitions, announced today it has acquired Allegiance Retirement Solutions, Inc. (“Allegiance”). Allegiance, based in Lawrenceville, GA, expands Merit’s presence in the state becoming Merit’s fifth Georgia location. This acquisition increases Merit’s acquired assets by approximately $140 million.
Allegiance specializes in offering strategic retirement guidance, investment management, IRA rollover services, and lump sum investment services. While the firm has been affiliated with Merit as an Independent Advisor Partner for more than six years, their team will now have the opportunity to fully leverage Merit’s technology, investment offerings, and tax accounting capabilities, providing more robust services for their clients. The firm is led by CEO and Managing Partner Todd Hicks and President Craig Anderson, CFS, who will both assume new roles at Merit as Wealth Managers. Todd and Craig will be joined at Merit by their entire team.
“We are thrilled to welcome Todd, Craig, and team to Merit Financial Advisors,” said Kirk Wilkerson, Regional Director and Partner at Merit. “Allegiance is a great cultural fit for Merit; their team is laser-focused on providing strategic financial advice and excellent client service, which is in line with Merit’s core values.”
“We are excited to join Merit Financial Advisors,” said Craig Anderson. “Their investment, planning, and technological strengths will allow us to continue to provide outstanding service and advice for our clients. Merit’s national network will be a benefit for all of our clients.”
This is Merit’s thirteenth acquisition since taking a minority investment in December 2020 from Wealth Partners Capital Group (“WPCG”) and a group of strategic investors led by HGGC’s Aspire Holdings platform.
“At Merit, we’re passionate about helping our clients and our teams thrive,” said Andy Lubben, Regional Director and Partner at Merit. “We place a strong emphasis on personal and professional development, and we look forward to providing the Allegiance team with increased opportunities for career growth.”
“It is exciting to see Merit and Allegiance formalize their partnership,” said Nick Trepp, Principal of WPCG. “This transaction validates Merit’s partnership model as they support Allegiance and their clients with greater resources, services, and infrastructure.”
The acquisition was finalized on December 16, 2022. Financial and legal terms of the deal were not disclosed.
About Merit Financial Advisors
Merit Financial Group, LLC, doing business as Merit Financial Advisors (“Merit”), is a national wealth management firm that supports both the independent broker-dealer and RIA models. Based in Atlanta, Georgia, Merit has 36 offices throughout the U.S. and managed $6.1 billion in assets as of September 30, 2022 ($4.47 billion in advisory, $1.56 billion in brokerage assets and with $92 million in assets under advisement).
For more information, please visit www.meritfinancialadvisors.com.
Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Merit Financial Group, LLC, an SEC-registered investment adviser. Merit Financial Group, LLC, Merit, Merit Financial Advisors are separate entities from LPL Financial.
About Wealth Partners Capital Group
Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which invests in and partners with select leading wealth management firms. WPCG assists its partner firms by identifying and integrating like-minded registered investment advisors and financial advisors who are seeking access to expanded business capabilities, strategic growth and customized transition solutions. For more information, please visit www.wealthpcg.com.
HGGC is a leading middle-market investment firm based in Palo Alto, Calif. with over $6.8 billion in cumulative capital commitments. HGGC is focused on partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. More information is available at hggc.com.