Merit Financial Advisors, a Georgia-based wealth management firm, has agreed to acquire Strategic Retirement Plans, a registered advisory firm with its principal office in Billings, Montana, and another location in Gillette, Wyoming.
Financial details of the transaction were not made public.
Strategic Retirement Plans oversees approximately $586 million of total client assets, comprised of approximately $582 million in assets under management and $4 million in retirement plan assets under advisement.
The company works with around 800 homes.
The acquired business was previously associated with Commonwealth Financial Network.
His work has focused on retirement income planning and financial advice for clients transitioning from employment to retirement.
Under the agreement, Strategic Retirement Plans owners and financial advisors 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 to Merit.
The transaction is Merit’s 57th deal and is part of its broader expansion in the U.S. through acquisitions of advisory teams in select 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 biggest goals is to help clients with the return on their investment so they can focus on the return on their life.
“We strive to combine the excellence of Wall Street with the personal touch of Main Street, because how clients experience their money is as important as how much they have. We are excited to partner with Merit Financial Advisors to continue delivering on that mission.”
Post-acquisition, the team will leverage Merit’s investment platform, operating systems and core support functions, including compliance, human resources and technology.
The Strategic Retirement Plans will adopt the name Merit Financial Advisors.
Josh Mersberger, Managing Director and Partner at Merit Financial Advisors, 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 built on trust, community commitment and a deep understanding of their clients’ financial lives. We are excited to welcome them to Merit and support their continued growth.”