ATLANTA, Feb. 11, 2025 -- Merit Financial Advisors ("Merit"), a Georgia-based financial advisory firm that specializes in financial planning and wealth management solutions for high-net-worth individuals and families and those navigating life transitions, announced today it has acquired Hershey Wealth Advisors, LLC ("Hershey"). This acquisition will expand Merit's presence with a fifth office in Pennsylvania and increase its assets by $233 million.
Hershey specializes in financial planning and investment management. The firm also assists clients with preparing their individual, state, and local income tax returns and offers long-term care and disability insurance solutions. Gregory K. Richards, Principal of Hershey, will take on the role of Wealth Manager and Partner at Merit and will be joined by the rest of his team.
"At Hershey, we always put our clients' best interests first," said Greg. "By joining forces with Merit, we're infusing more resources into our offering, providing us more time to spend with clients. Merit's offering will simplify our back-office complexities, broaden our access to technology, and increase our reach in the region."
This is Merit's thirty-third acquisition since taking a minority investment in December 2020 from Wealth Partners Capital Group ("WPCG") and a group of strategic investors led by HGGC's Aspire Holdings platform. Last month, Merit acquired Pillar Wealth Management Co., which expanded Merit's assets by $179 million and added two new offices in Wisconsin.
"We are excited to welcome the Hershey team to Merit and establish a presence in this thriving area of Pennsylvania," said Tyler Vernon, Managing Principal and Partner at Merit. "Greg and his team of professionals are closely aligned with Merit's core values, and we're looking forward to a prosperous partnership."
The merger was finalized on February 7, 2025. FP Transitions acted as the sole advisor in this transaction. Financial and legal terms of the deal were not disclosed.
About Merit Financial Advisors
Merit Financial Group, LLC, doing business as Merit Financial Advisors ("Merit"), is a national wealth management firm that supports both the independent broker-dealer and RIA models. Merit exists to enrich the lives of those they serve, and its mission is to revolutionize the client experience by building the RIA of the future. Based in Atlanta, Georgia, Merit has over 40 offices throughout the U.S. and managed $11.84 billion in assets as of June 30, 2024 ($8.8 billion in advisory, $2.8 billion in brokerage assets, and $253 million in assets under advisement). For more information, please visit www.meritfinancialadvisors.com. Investment advice offered through Merit Financial Group, LLC, an SEC registered investment adviser.
About Wealth Partners Capital Group
Wealth Partners Capital Group (WPCG) is a financial services holding company, which invests in and partners with select leading wealth management firms. WPCG assists its partner firms by identifying and integrating like-minded wealth advisers who seek access to expanded business capabilities, strategic growth and/or customized transition solutions. For more information, please visit www.wealthpcg.com.
About HGGC
HGGC is a values-driven, partnership-focused private investment firm. The firm's ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long-term value together. HGGC invests in technology, business services, financial services and consumer enterprises generally valued between $200M – $1.5B+. The firm is based in Palo Alto, CA and manages over $6.9 billion in cumulative capital commitments. Since its inception in 2007, HGGC has completed more than 700 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $80 billion. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. More information, including a complete list of current and former investments, please visit www.hggc.com.
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