US-based financial advisory firm Merit Financial Advisors has completed its acquisition of Obsidian Planning Solutions for an undisclosed sum.
This is Merit’s 50th acquisition, which adds $476m in assets and establishes its first two offices in Maryland, located in Rockville and Columbia.
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Obsidian focuses on business succession planning and offers financial planning services tailored for business owners.
The partnership with Merit would provide Obsidian with enhanced operational scale and enhanced marketing resources.
Also, the acquisition will bolster Merit’s expertise in business succession planning.
Merit managing principal and partner Tyler Vernon said: “Obsidian’s expertise in business succession planning enables Merit to expand our offering to this underserved market.
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By GlobalData“Their team’s focus on this massive generational wealth transfer—trillions of dollars expected to move from Baby Boomers, particularly who own private companies, to new owners in the coming years, aligns perfectly with Merit’s mission to better serve this client base.”
As part of the acquisition, Obsidian partners Patrick Carroll and Todd Feldman, along with their team, will be moved to Merit.
Merit provides wealth management solutions for high-net-worth individuals and families, as well as those experiencing life transitions.
As of 30 June 2025, the company managed $19.94bn in assets across various categories, including advisory, brokerage, and retirement assets.
Todd said: “Obsidian’s primary focus is guiding business owners through a process to plan their eventual exit, and partnering with Merit has been a crucial part of our strategy.”
Patrick added: “This partnership enables us to optimize staffing and leverage Merit’s operational support, allowing us to grow and enhance our offering.”
Earlier this year, Merit acquired Global Wealth Advisors, bringing an additional $860m in client assets under Merit’s management.
Also, it would add new offices in Lewisville, San Antonio, Angleton, Snyder, Naples, Canonsburg, and Snyder, Texas; Naples, Florida; and Canonsburg, Pennsylvania to Merit.
