Merit Financial Advisors Partners with Viren and Associates to Expand Presence in the Pacific Northwest
Growing RIA adds more than $542 million in total assets.
ATLANTA – [March 13, 2024] – 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 Viren and Associates, Inc. (“Viren”). The firm, based in Spokane, Washington, will expand Merit’s existing presence in the region and increase assets by more than $542 million.
Founded by Paul and Beth Viren as a financial planning firm, Viren also specializes in retirement plans, life and disability insurance, and group employee benefits. Paul, a Chartered Financial Consultant, Chartered Life Underwriter, and Accredited Estate Planner, has 30 years of experience. Viren’s team of two additional financial planners and client support professionals will also join Merit.
“Merit’s commitment to excellence and providing world-class service to its clients is highly appealing and fully aligns with the brand that Viren has successfully built over the past few decades,” said Paul. “One of Viren’s core values is to always put its clients’ interests first, and we are thrilled to have found a partner in Merit that has the same level of integrity, approach to clients, and expertise.”
“The strategic partnership between Merit and Viren is a major milestone that sets Merit up for significant future success, specifically with the expansion of Merit’s qualified retirement plan and advanced insurance service offerings,” said Tait Lane, Regional Director and Partner at Merit. “I couldn’t be more excited about the future of Merit with the addition of Paul and his team as a part of our organization.”
This is Merit’s twenty-fifth 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.
The merger was finalized on March 8, 2024. 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. Merit exists to enrich the lives of those they serve, and its mission is to revolutionize the client experience by building the RIA of the future. Based in Atlanta, Georgia, Merit has over 40 offices throughout the U.S. and managed $10 billion in assets as of December 31, 2023 ($7.15 billion in advisory, $2.7 billion in brokerage assets, and $242 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 wealth advisers who seek access to expanded business capabilities, strategic growth and/or customized transition solutions. For more information, please visit www.wealthpcg.com.
About HGGC
HGGC is a values-driven, partnership-focused private investment firm. The firm’s ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long term value together. HGGC invests in technology, business services, financial services and consumer enterprises generally valued between $200M – $1.5B+. The firm is based in Palo Alto, CA and manages over $6.9 billion in cumulative capital commitments. Since its inception in 2007, HGGC has completed more than 600 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $71 billion. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. More information, including a complete list of current and former investments, is available at www.hggc.com.
Media Contact
Martina Chisholm
470-509-3059