Introducing Merit Amplify: Empowering Financial Advisors
Fast-growing wealth management firm Merit Financial Advisors is proud to announce the official launch of an innovative independent affiliation model designed specifically for financial advisors.
Retain Ownership, Amplify Success
This unique model, named Merit Amplify, enables financial advisors to retain ownership of their practices while benefiting from the resources and expertise provided by Merit. Advisors who join Amplify will receive support with investment management, technology, compliance, and succession planning. Unlike traditional employment arrangements, advisors under Amplify will function as 1099 independent contractors of Merit instead of W-2 employees.
A Vision for Growth
Kelly Straub, managing partner of Merit Amplify, explains the motivation behind this initiative: “We created Merit Amplify in response to increasing demand from firms looking to maintain ownership while tapping into the resources of a larger organization, particularly in the realm of investment management.” This strategic partnership allows advisors to delegate operational burdens such as compliance and technology decisions, allowing them to focus on delivering exceptional client service.
Leading the Way in Wealth Management
Headquartered in Atlanta, Merit boasts a widespread presence with over 40 offices across the United States. While the firm is a registered investment advisor, it leverages LPL Financial’s brokerage platform for commission-based business activities.
Unprecedented Growth
As of December 31, Merit proudly reported overseeing $10 billion in client assets, a significant rise from the $4.8 billion just three years prior. Join us in shaping the future of wealth management with Merit Amplify.
Merit’s Strategic Growth and Affiliated Advisors Program
Merit’s impressive expansion can be attributed, in part, to its ambitious mergers and acquisitions strategy, which included a minimum of seven transactions in 2023. With significant capital injections from private-equity investors, the company has been able to drive this growth. In 2021, Merit reached an agreement to sell a portion of its business to Wealth Partners Capital Group and a coalition of investors led by HGGC, a prominent private-equity firm. Subsequently, in October 2023, Merit announced a stake sale to Neuberger Berman, a renowned fund manager.
Amplify Program Benefits for Affiliated Advisors
Affiliated advisors will gain exclusive access to Merit’s team of seasoned portfolio managers, tailored investment solutions, and expert market insights through the Amplify program. Additionally, advisors will have the opportunity to leverage cutting-edge technologies such as Salesforce and Orion, receive comprehensive desktop support, and benefit from robust cybersecurity measures. Amplify will offer advisors essential compliance services and valuable assistance with succession planning, including facilitating buy-sell agreements.
CEO Insights on Amplify Program
CEO Rick Kent envisions Amplify as an intermediate step for advisors contemplating the eventual sale of their practices to Merit. Kent describes this phase as a unique opportunity for firm owners to “date” a potential partner before committing to a merger or acquisition. This approach allows for a gradual transition, ensuring that both parties are aligned before entering into a long-term partnership.
