Merit Buys $739M Pennsylvania RIA

Merit Financial Advisors has acquired Zimmermann Investment Management & Planning, an advisory firm with $739 million in client assets, expanding Merit’s presence with a fourth office in Pennsylvania.

Financial terms of the deal, which closed on December 20, 2024, were not disclosed.

Based in New Cumberland, Zimmermann specializes in serving state employees and retirees in the region with a focus on investment management, retirement, and estate planning. Zimmermann plans to expand its infrastructure and grow its marketing, technology, and investment teams.

Zimmerman president and investment advisor representative, Curt H. Zimmermann, will transition to partner and wealth manager at Merit and will be joined by the rest of his team.

“I am thrilled to be taking Zimmermann to the next level of growth by partnering with Merit,” said Zimmerman. “We are proud to join a firm that aligns with our mission of putting the client first, enabling our team to focus on their responsibilities while expanding how we serve our clients.”

This is Merit’s 31st acquisition since taking a minority investment in December 2020 from Wealth Partners Capital Group and a group of strategic investors led by HGGC’s Aspire Holdings platform. In late December, Merit announced its acquisition of Roth Asset Management, which added approximately $773 million in assets and expanded Merit’s presence in the Pacific Northwest.

Based in Atlanta, GA, 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).