Merit acquires fellow Georgia-based firm managing $300M
ClearBridge Wealth provides investment management and financial planning.
Merit Financial Advisors, a financial advisory firm based in the Atlanta area, has acquired Atlanta-based ClearBridge Wealth Management, the firms announced Wednesday.
ClearBridge oversees $300 million in client assets and provides investment management and financial services for individuals, families and business owners.
Preston Byers, founder of ClearBridge, said in a statement that the core values of the two firms align. “Merit’s strong back-office support team and extensive technology suite will allow me more time to connect with my clients,” he added.
Terms of the deal were not disclosed.
This acquisition marks Merit’s 22nd since it took a minority investment in December 2020 from Wealth Partners Capital Group.
Merit’s most recent acquisition was in August, when it acquired Reis Financial Services, adding $178 million in AUM and expanding Merit’s presence in Wisconsin.
“Preston’s expertise and focus on client service complements Merit’s approach, and it is exciting to watch Merit build their Atlanta presence by partnering with such a talented advisor,” said WPCG principal, Nick Trepp.
Merit has more than 40 offices throughout the U.S. and managed approximately $9 billion in assets as of Sept. 30. The merger was finalized last Friday.
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