Merit Financial Advisors, a wealth management company based in Georgia, has agreed to acquire Strategic Retirement Plans, a registered advisory business with its main office in Billings, Montana, and another location in Gillette, Wyoming.

Financial details of the transaction were not made public.

Strategic Retirement Plans oversees about $586min client assets in total, made up of roughly $582m in assets under management and $4m in retirement plan assets under advisement.

The firm works with around 800 households.

The acquired business was previously associated with Commonwealth Financial Network.

Its work has centred on retirement income planning and financial advice for clients moving from employment into retirement.

Under the deal, Strategic Retirement Plans owners and financial advisers Gabe Lapito and Ryan Gomendi will join Merit as area directors, wealth managers and partners.

The rest of the firm's staff will also move across to Merit.

The transaction is Merit's 57th deal and is part of its wider expansion across the US through acquisitions of advisory teams in selected markets.

Strategic Retirement Plans was established with an emphasis on retirement income planning and has clients in Montana, Wyoming and other parts of the country.

Its client list includes people employed in regional energy industries such as coal mining and oil refining, along with business owners and families.

Strategic Retirement Plans owner and financial advisor Gabe Lapito said: "One of our greatest goals is helping clients with their return on investment so they can focus on their return on life.

“We strive to combine the excellence of Wall Street with the personal touch of Main Street, because how clients experience their money is just as important as how much they have. We're excited to partner with Merit Financial Advisors to continue delivering on that mission.”

After the acquisition, the team will use Merit's investment platform, operating systems and central support functions, including compliance, human resources and technology.

Strategic Retirement Plans will adopt the Merit Financial Advisors name.

Merit Financial Advisors managing principal and partner Josh Mersberger said: "Strategic Retirement Plans is an exceptional firm with a talented and growing team that shares our commitment to client relationships and long-term stewardship.

"Gabe, Ryan and their team have built a practice rooted in trust, community engagement and a deep understanding of their clients' financial lives. We are excited to welcome them to Merit and support their continued growth."

"Merit adds $586m in assets with Strategic Retirement Plans" was originally created and published by Private Banker International, a GlobalData owned brand.

 

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