Merit Financial Advisors has added a wealth management firm, managing $1.2 billion in total assets, marking Merit’s entry into the Chicago market. 

Blueprint Wealth Advisors, which has offices in Chicago and Rockford, Illinois, and Fitchburg, Wisconsin, offers “comprehensive” wealth management services for ultra-high-net-worth and high-net-worth clients. 

The 20-person team, which includes nine advisors, joined Merit Financial on November 14 and was previously affiliated with Commonwealth Financial Network. 

As part of the acquisition, managing partners and wealth advisors Ryan Evans and Nick Wilkins have joined Merit as regional directors and partners.  

Broker-dealer Purshe Kaplan Sterling will continue to provide its custodian and brokerage services to Blueprint. 

Blueprint is the second firm to jump from Commonwealth to Merit, following the addition of Texas-based Global Wealth Advisors, which oversees about $860 million in assets under management. 

Merit’s latest addition marks the firm’s 13th and final transaction for this year, bringing the firm’s total to 52 acquisitions, a Merit spokesperson confirmed to Connect Money.

“Bringing Nick, Ryan, and the Blueprint team into our organization represents a pivotal moment in our growth strategy,” Zach Mersberger, managing principal and partner at Merit, said. “They bring top talent, experience serving high-net-worth clients in the Chicago and Madison, WI areas, and proven leadership to help us continue growing Merit’s impact. This is truly a transformational partnership for us.” 

Recently, Merit acquired Maryland-based Obsidian Planning Solutions, which manages about $476 million in total client assets, marking the firm’s expansion into Maryland. 

These acquisitions by Merit come after the firm sold a minority stake to Constellation Wealth Capital. 

The investment will Merit 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.