$582M Wyoming Firm Ditches Commonwealth for Merit Financial Advisors

Merit Financial Advisors has acquired Billings, MT-based Strategic Retirement Plans, which manages about $586 million in assets under management. 

Strategic Retirement Plans, founded in 2015 by owners Gabe Lapito and Ryan Gomendi, offers investment management, retirement strategies, estate planning, succession planning, insurance, and annuity products to about 800 clients. 

The firm also has an office in Gillette, Wyoming, and marks Merit’s 57th acquisition, following its addition of Marietta, GA-based Yeomans Consulting Group, which oversees about $434 million in total client assets. 

Prior to joining Merit, the team was previously affiliated with Commonwealth Financial Network and marks the fifth firm to leave Commonwealth for Merit, following its sale to LPL Financial. 

Recently, Merit added Newtown, PA-based GlennCo, which manages $208 million in assets under management, which jumped ship from Commonwealth in February. 

As part of the acquisition, Lapito and Gomendi have joined Merit as area directors, wealth managers, and partners. 

“We strive to combine the excellence of Wall Street with the personal touch of Main Street, because how clients experience their money is just as important as how much they have,” Lapito said. 

Strategic Retirement Plans has also rebranded to Merit Financial Advisors, and all employees have transitioned to Merit, the RIA said. 

The financial and legal terms of the transaction, which closed on March 27, were not disclosed. 

Atlanta-based Merit Financial Advisors manages approximately $24.7 billion in total assets, including $2.3 billion in retirement assets, under advisement across 55 offices as of January 1, the firm said. 

Wealth Partners Capital Group, a financial services firm, and equity firm HGGC formerly held a minority stake in Merit since December 2020.

Pictured: Strategic Retirement Plans