Merit Financial Advisors Adds $900M Southern California Firm

Merit Financial Advisors has acquired a Southern California-based advisory firm, which oversees about $900 million in assets under management. 

The Bridgeway Group, founded in 2014, is led by partners Matt Dupon, Sean Montgomery, and Scott Miller. 

The nine-person team provides wealth management services, including financial planning and investment management, with an emphasis on retirement planning. 

Prior to joining Merit, Bridgeway was affiliated with Commonwealth Financial Network for 13 years and had grown its firm annually by 22% over the past five years, with offices in Pasadena and Covina. 

The firm marks Merit’s 61st acquisition overall and its ninth transaction for the year. Bridgeway is also the sixth team from Commonwealth to join Merit since the firm was acquired by LPL Financial last August. 

“There is a difference when the people leading an organization have actually sat across the table from clients and understand an advisor’s day-to-day responsibilities,” Dupon said. 

As part of the acquisition, Dupon and Montgomery have joined Merit as wealth managers and partners, while Miller has become an area director, wealth manager, and partner. Bridgeway has also added two associates to its firm, according to Merit. 

The Bridgeway Group 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 July 31, were not disclosed. 

Last month, Merit added Towson, MD-based Towson Wealth Management, which manages about $503 million in assets, and expanded Merit’s presence in the Mid-Atlantic region.  

Atlanta-based Merit Financial Advisors manages approximately $30 billion in total assets, including $22.9 billion in advisory assets and $3.3 billion in brokerage assets, under advisement across 55 offices as of July 20. 

Pictured: Matt Dupon (Left), Sean Montgomery (Middle), and Scott Miller (Right)