- Merchant Investment Management recently announced it completed a transaction for taking a minority stake in the Wealth Advisor Growth Network
Merchant Investment Management recently announced it completed a transaction for taking a minority stake in the Wealth Advisor Growth Network (WAGN). Wealth Advisor Growth Network — which was founded by John Phoenix and Jay Hummel in October of 2019 — is known for focusing on establishing new, optimizing existing, and growing independent wealth firms along with the best in class firms that serve them.
In the past year, the two companies collaborated on a variety of projects, strategic initiatives, and investments.
“We’ve been working as partners since early 2019, and investing in the company was the next logical step for the evolution of our relationship. We are excited about the momentum at WAGN and see it as a key strategic piece of our growing ecosystem,” said Tim Bello, managing partner of Merchant.
Matt Brinker, managing partner at Merchant Investment Management, will be joining the WAGN advisory board in order to ensure continued alignment of the two companies.
“While we had a high number of interested investors, it was clear what we wanted in a financial partner: people with a reputation of doing things the right way, alignment on future industry vision, access to long term capital and the ability to help the company enhance its impact on its clients. It was clear all of that was present in our partnership with Merchant,” added Hummel.
