Merit notches 19th deal since taking PE capital

Merit Financial Advisors has announced the acquisition of Planned Futures, a Williamsport, Pennsylvania-based advisory firm managing $460 million.

The deal represents the 19^th acquisition for Atlanta-based Merit since it took a minority investment in December 2020 from Wealth Partners Capital Group and a group of strategic investors led by HGGC’s Aspire Holdings platform. Earlier this year, Merit acquired TFG Wealth Management, Invex Financial and WealthPlan, which added a total of $424 million in assets and two new offices in Pennsylvania.

Planned Futures provides investment management and retirement planning strategies for state employees and mass affluent clients. The firm is led by James Arnold and John Keene Jr., who will assume new roles at Merit as regional directors and partners. They will be joined by their team of more than 10 professionals.

“We knew we had to find a partner with the same priorities in order to form a successful partnership,” Arnold said in a statement.

Merit has 40 offices throughout the U.S. and manages approximately $8.1 billion in client assets.

Nick Trepp, principal at the private equity firm WPCG, said there has been a focus on helping Merit develop a bigger footprint in Pennsylvania.

“We’re excited to watch Merit expand into Pennsylvania with the Planned Futures team,” Trepp said. “James and John’s successful business stems from their dedication to excellent client service and their drive for high-quality solutions; their client-first mentality makes them a perfect fit with Merit.”