Merit Financial Advisors, based in Georgia, US, has formed a strategic alliance with Mersberger Financial Group to combine their businesses.
Founded by Peter and Marilyn Mersberger in 1994, Mersberger Financial Group currently has offices in Sheboygan Falls and Appleton, Wisconsin.
The company, headed by co-CEOs and co-COOs Joshua and Zachary Mersberger, primarily provides individuals, employers, and organisations with retirement planning services, financial planning and wealth management services.
Following the completion of the new deal, Joshua and Zachary are set to become regional directors at Merit.
Mersberger’s current workforce of over 20 people will also join Merit, with Donald Hammond is expected to lead Merit’s Retirement Plan unit.
The latest deal is set to allow Merit to establish its business in the region as well as throughout Montana and Illinois.
It will also see Merit to increase its assets under management by $830m. Merit is also expected to expand the assets under advisement under its Retirement Plan unit by $489m.
Financial and legal details of the transaction were not divulged.
The deal represents the eighth acquisition made by Merit after assuming a minority investment in December 2020 from Wealth Partners Capital Group and HGGC-led team of strategic investors.
Merit Financial Advisors CEO and founder Rick Kent said: “When evaluating new advisor partners, we look at a firm’s organic growth engine, talent base, and its potential for next-generation leaders.
“Mersberger Financial Group checked all those boxes and more. We’re ecstatic to welcome the Mersberger team while establishing Merit’s presence in Wisconsin.”
In April this year, Merit continued its acquisition spree by acquiring two firms, Tedstrom Wealth Advisors and I.M. Wealth Care (IMWC).
