Merit Financial Advisors, a financial advisory firm based in Georgia, recently announced its acquisition of Sanctuary Wealth Management, LLC, and Fiduciary Services, LLC. This deal will enable Merit to establish a presence in Idaho and collectively grow its assets by $1.6 billion.
Sanctuary specializes in investment advisory and portfolio management, primarily serving private clients. Additionally, the firm offers a variety of retirement and investment solutions for corporate clients, including 401(k) plans. Fiduciary Services, a subsidiary of Sanctuary, focuses on employee stock ownership plans (ESOPs), providing both transactional and ongoing trustee services for their clients.
This acquisition marks Merit’s thirty-fourth since it received a minority investment in December 2020 from Wealth Partners Capital Group, along with a group of strategic investors led by HGGC’s Aspire Holdings platform. Last month, Merit also acquired Hershey Wealth Advisors, LLC, which increased its assets by $233 million and added a fifth office in Pennsylvania.
