Merit Financial Advisors Partners with Financial Design Group to Expand Presence in Pacific Northwest
Merit Financial Advisors (“Merit”), a Georgia-based financial advisory firm that specializes in financial planning and wealth management solutions, announced today it has acquired Financial Design Group, Inc. (“FDG”), adding a new office in Des Moines, Washington. The merger increases Merit’s total assets by approximately $127 million.
Founded by Barry Reid in 1994, FDG currently serves more than 300 families, primarily in Western Washington. Barry and his team specialize in financial, retirement, estate planning, and tax strategies. Barry will assume a new role at Merit as Wealth Manager and Partner, and he will be joined by his exceptional team of financial professionals.
“Like FDG, Merit practices a team-based, collaborative approach to meet their clients’ short and long-term financial goals,” said Reid. “Merit’s mission and philosophy mirror FDG’s, and we are excited for our clients to benefit from Merit’s expanded suite of services, resources, and strategies. Joining with Merit will allow our team to operate with increased efficiency and provide us with the opportunity to better service our clients moving forward.”
“We are delighted to start off 2023 by welcoming the FDG team to Merit,” said Tait Lane, Merit Financial Advisors Regional Director, and Partner. “Merit’s expansion in the Pacific Northwest is a strategically important part of our growth plan.”
This is Merit’s fourteenth 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. In October 2022, Merit announced its acquisition of Triad Financial Strategies, which added $683 million in total assets and established Merit’s presence in the Pacific Northwest.
The merger was finalized on January 6, 2023. Financial and legal terms of the deals 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. Based in Atlanta, Georgia, Merit has 36 offices throughout the U.S. and managed $6.1 billion in assets as of September 30, 2022 ($4.47 billion in advisory, $1.56 billion in brokerage assets and with $92 million in assets under advisement).
For more information, please visit www.meritfinancialadvisors.com.
Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Merit Financial Group, LLC, an SEC-registered investment adviser. Merit Financial Group, LLC, Merit, Merit Financial Advisors are separate entities from LPL Financial.
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 registered investment advisors and financial advisors who are seeking access to expanded business capabilities, strategic growth and customized transition solutions. For more information, please visit www.wealthpcg.com.
About HGGC
HGGC is a leading middle-market investment firm based in Palo Alto, Calif. with over $6.8 billion in cumulative capital commitments. HGGC is focused on partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. More information is available at hggc.com.
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