Merit Financial Advisors Adds Second Office in New Jersey with Acquisition of Westfield Financial Planning
NEW JERSEY —[July 31, 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 Westfield Financial Planning (“Westfield”). The firm, based in Westfield, New Jersey, expands Merit’s existing presence in the region and increases Merit’s assets by $207 million.
Westfield specializes in investment management along with retirement, tax, and estate planning for individuals and families. Westfield also provides a particular focus on women and those who have special needs family members. The firm collaborates with its clients’ tax accountants, estate attorneys, and insurance brokers to ensure a comprehensive approach to all financial decisions made for their clients.
Westfield is led by Mark Swingle, CFP®, and Daniel Song, CFA®, who will assume new roles as Partners and Wealth Managers at Merit. They will be joined at Merit by their client support and operations team.
“In Merit, we have found a partner that aligns with Westfield Financial Planning’s long-standing values of putting clients first and offering top-tier service,” said Swingle. “We look forward to this new chapter as we continue to serve our client base in the same location, but with the greater resources of Merit.”
“Our partnership with Merit will significantly enhance our team’s scalability, fueling our growth and enabling us to help even more clients in the Westfield area,” said Song.
This is Merit’s twenty-seventh 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. Earlier this year, Merit announced its acquisition of Access Investment Advisors, which added approximately $213 million in assets and expanded Merit’s presence in Wisconsin.
“Having started my business in New Jersey, it brings me great joy to expand Merit’s presence in the region with the addition of the Westfield team,” said Tyler Vernon, Partner and Regional Director at Merit. “Both Mark and Daniel provide their clients with the same level of care as Merit and bring a wealth of industry experience to the Merit team.”
The merger was finalized on July 26, 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 $11.84 billion in assets as of June 30,2024 ($8.8 billion in advisory, $2.8 billion in brokerage assets, and $253 million in assets under advisement). For more information, please visit www.meritfinancialadvisors.com.
Investment advice offered through Merit Financial Group, LLC, an SEC registered investment adviser.
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, please visit www.hggc.com.
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