Merchant Investment Management has completed the acquisition of a minority stake in the Wealth Advisor Growth Network (WAGN).
Founded in October last year by John Phoenix and Jay Hummel, WAGN is focused on establishing new, optimising existing, and growing independent wealth firms.
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Merchant Investment Management and WAGN have partnered on a wide array of projects, strategic initiatives, and investments over the last year.
Merchant managing partner Tim Bello said: “We’ve been working as partners since early 2019, and investing in the company was the next logical step for the evolution of our relationship.
“We are excited about the momentum at WAGN and see it as a key strategic piece of our growing ecosystem.”
WAGN co-founder Jay Hummel stated: “While we had a high number of interested investors, it was clear what we wanted in a financial partner: people with a reputation of doing things the right way, alignment on future industry vision, access to long term capital and the ability to help the company enhance its impact on its clients. It was clear all of that was present in our partnership with Merchant.”
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By GlobalDataAs per the agreement, Matt Brinker of Merchant Investment will find a place in the advisory board of WAGN.
Brinker will focus on ensuring continued alignment of the two companies, Merchant Investment said.
