RIA Merit Financial Advisors has added a Georgia-based wealth management and advisory firm, as the firm seeks to optimize its specialization for tailored clients. 

SSC Wealth, the wealth management division of SSC CPAs + Advisors, oversees $259.6 million in assets under management and offers tax planning, business valuation, and optimization to high-net-worth clients. 

As part of the acquisition, four SSC Wealth members, including partners and wealth managers Bert Falley and Michele Hammann, will join Merit Financial Advisors as regional VP and partners at Merit Financial Advisors, while serving as chief strategy officer of SSC CPAs + Advisors, Merit said. 

For Merit, the acquisition will serve as a “cornerstone” for its growth strategy, which will take place over the next five years, and will allow its clients to gain access to SSC Wealth’s tax planning and business advisory capabilities, the firm said. 

“This is not a traditional acquisition,” Rick Kent, CEO of Merit Financial Advisors, said. “This is about organic growth, differentiation, and doing what’s best for clients. “Rather than bringing our tax services exclusively in-house, we are also partnering with one of the most respected CPA firms in the country so our clients can benefit from their expertise.” 

The transaction marks Merit’s first deal for the year and 53rd acquisition overall, following its acquisition of Illinois-based Blueprint Wealth Advisors, which manages $1.2 billion in total assets, marking Merit’s entry into the Chicago market. 

Following Merit’s latest acquisition, SCC Wealth’s parent company SSC CPAs + Advisors will remain a 100% employee-owned firm as Merit will not be acquiring the firm, Merit said. 

In July, Merit sold a minority stake to Constellation Wealth Capital to help with its expansion through acquisitions, advisor recruitment, advanced technology, and personalized client experience initiatives, 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.  

Atlanta-based Merit Financial Advisors manages approximately $20.78 billion in assets under advisement across 55 offices, the firm said. 

Connect Money is spotlighting rising stars who have made a valuable contribution to the wealth management industry. Based on your nomination, we will recognize professionals who have significantly influenced both the workplace and community. The nomination deadline is March 4. Click here to submit your nominations and help us highlight the next generation of wealth management leaders.