Atlanta-based Merit Financial Advisors announced a minority investment from Constellation Wealth Capital (CWC).
The transaction is expected to close in the third quarter of this year. Merit will keep its name and leadership, with no changes to its operational structure.
The investment follows Merit’s eight acquisitions to date in 2025 and is planned to support Merit’s M&A, organic growth, advisor recruitment, practice management support and enhancements to its technology and client experience offerings.
“Their deep experience in the wealth management space, alignment with our culture, and long-term mindset made this an ideal match,” said Rick Kent, CEO of Merit. “Their investment structure preserves our independence and leadership continuity, which are critically important to our team, our clients, and our future.”
As part of the transaction, Wealth Partners Capital Group (WPCG) and a group of strategic investors led by HGGC’s Aspire Holdings will exit their ownership stake. WPCG held a minority stake in Merit since 2019.
Kay Lynn Mayhue, President of Merit, said, “CWC’s support will allow us to accelerate our strategic initiatives and further strengthen our capabilities for our advisors and their clients. We remain focused on growing the right way through values-driven leadership and by empowering our team to thrive in service of others.”
Merit has $19.94 billion in assets under advisement and operates more than 40 offices, serving high-net-worth individuals, families and clients navigating life transitions.
Ardea Partners served as the lead financial advisor on the transaction, assisted by William Blair. Holland & Knight and Kirkland & Ellis were legal counsel to Merit. Goldman Sachs was financial advisor to Constellation, and Gibson, Dunn & Crutcher served as its legal counsel.
Michael Madden, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at michael.madden@wealthsolutionsreport.com.
