Merit Financial Advisors, a national wealth firm overseeing more than $10 billion in client assets, has unveiled a new option for advisory teams who may want to explore a relationship with Merit without giving up their autonomy.
Through its new offering, Merit Amplify, the firm aims to fill a gap for advisors who don’t want to be tied down in a merger or acquisition.
“Think of it as a form of courting, a time for a firm owner to ‘date’ a prospective partner before ‘marrying’ and making the decision to merge or be acquired,” Merit CEO Rick Kent explained in a statement announcing the new option.
“We created Merit Amplify in response to increasing inquiries from firms seeking to maintain ownership while leveraging the capabilities of a larger firm, especially in areas such as investment management,” said Kelly Straub, managing partner of Merit Amplify.
Under its new advisor affiliation model, Merit says financial advisors and firms can maintain control over their business while still getting support across various areas.
Affiliate firms and advisors under the Amplify program can also benefit from the investment expertise of its portfolio managers, customized investment solutions and regular market commentary, Merit said.
The new model also offers access to enterprise technology solutions from providers like Salesforce and Orion, as well as desktop support, cybersecurity monitoring, and learning management.
Merit also highlighted its ability to reduce administrative headaches through its compliance services, enable brokerage business through its B-D relationship with LPL, and support advisors’ succession planning through buy-sell arrangements and a simplified transition process for firm owners who decide to sell.
Firms under the Merit Amplify program could also avail themselves of additional investment management, technology, and human resource support services for an extra fee.
“We believe that Merit Amplify will redefine the advisor affiliation landscape, providing a flexible and supportive platform for firms looking to thrive in an ever-evolving industry,” Kent said.
Last November, LPL introduced its own advisor affiliation program for high-net-worth advisors with the launch of LPL Private Wealth Management.
“With the LPL Private Wealth offering, these advisors can get the best of both worlds: exclusive access to specialized teams and resources vital to supporting the needs of high-net-worth investors while enjoying all the flexibility of independence,” Gary Carrai, LPL’s executive vice president for advisor business lines, told InvestmentNews at the time.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
