Georgia-based RIA Merit Financial Advisors has expanded financial planning capabilities with the acquisition of Consilium Financial Group, which manages $291m in client assets.
The deal, whose financial terms are not revealed, will expand Merit’s presence in its headquarters of Atlanta.
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Based in Roswell, Georgia, Consilium is a comprehensive financial planning and wealth management firm founded by Kirk Wilkerson and Andy Lubben.
The firm offers tax planning, risk management, estate planning and investment services for high-net-worth (HNW) individuals and families.
In 2015, Consilium joined in Merit’s its Independent Advisor Partner Programme, integrating with the firm’s investment offerings and operational support.
The deal allows Consilium team members and clients to access Merit’s full spectrum of services, resources, and solutions.
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By GlobalDataUnder the agreement, the entire Consilium staff will join Merit. Wilkerson and Lubben will join the company as regional director.
Merit founder and CEO Rick Kent said: “Our team at Merit is driven by a commitment to delivering superior client services and designing personalised solutions that advance our clients’ financial and life goals.
“Our long-term growth is fuelled by aligning with firms that share this philosophy. We have had the pleasure of working closely with Andy, Kirk and the Consilium team for the last six years, and we are thrilled to fully integrate them into the Merit family.”
Commenting on the deal, WPCG senior partner Rich Gill added: “We are excited to close this transaction with Merit.
“The financial services industry continues to evolve and consolidate, and the Consilium/Merit partnership underscores the importance of attracting and retaining experienced advisors and leaders with strong cultural alignment.”
The latest deal comes close on the heels of a recent financial boost secured by Merit from Wealth Partners Capital Group and a group of strategic investors led by middle-market private equity firm HGGC.
In January this year, Colorado-based RIA aggregator Mercer Global Advisors acquired wealth manager Atlanta Financial Associates (AFA), marking its second Georgia acquisition in a week.
