Merit Financial Advisors (“Merit”), a national wealth management firm with over $10 billion in assets under management, announced the launch of its new Advisor Affiliation Model, Merit Amplify. The new offering provides financial advisors and their firms with an additional way to collaborate with Merit Financial Advisors, offering flexibility and tailored solutions, outside of a merger and acquisition option.
Merit Amplify is designed for advisors seeking the benefits of Merit Financial Advisors while preserving their independence. According to Rick Kent, CEO at Merit, “Think of it as a form of courting, a time for a firm owner to “date” a prospective partner before “marrying” and making the decision to merge or be acquired. We believe that Merit Amplify will redefine the advisor affiliation landscape, providing a flexible and supportive platform for firms looking to thrive in an ever-evolving industry.”
Key Features of Merit Amplify include:
- Independence with Support:
- Advisory firms and individual advisors can affiliate with Merit while retaining their autonomy.
- Investment Management Expertise:
- Utilization of Merit’s team of portfolio managers, customized investment solutions, frequent market commentary and updates.
- Essential Tech Offerings:
- Access to crucial technology services, including Salesforce, Orion, as well as desktop support, cybersecurity oversight and learning management software.
- Compliance Services:
- Utilization of Merit’s compliance services to streamline regulatory requirements.
- Strategic Brokerage Partnership:
- Affiliated firms’ usage of Merit’s BD, LPL, for any brokerage business, ensuring a strategic partnership for growth.
- Succession Planning Benefits:
- Merit Amplify supports firms with succession planning, offering services like Buy/Sell Agreements and simplifying the transition if and when a firm owner decides to sell.
Merit Amplify also provides the ability for firms to opt into additional elective services. Firms can choose from services such as investment management, advanced technology offerings, and human resource support, for an extra fee if needed.
Kelly Straub, Managing Partner of Merit Amplify notes, “We created Merit Amplify in response to increasing inquiries from firms seeking to maintain ownership while leveraging the capabilities of a larger firm, especially in areas such as investment management. Merit Amplify allows them to outsource operational complexities, such as compliance and technology decisions, freeing them to focus on client-facing activities.”
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