Merit Financial Advisors, a Georgia-based wealth management firm specializing in financial planning for high-net-worth individuals and families, announced its acquisition of Obsidian Planning Solutions, a Maryland-based firm known for its expertise in business succession planning. The deal represents Merit’s 50th acquisition and its first entry into the Maryland market, adding $476 million in assets and two new offices in Rockville and Columbia.
The acquisition underscores Merit’s continued expansion across the United States. It deepens its focus on business succession services—a key area as trillions of dollars in generational wealth are expected to transfer from Baby Boomer business owners in the coming years. By integrating Obsidian’s specialized experience, Merit aims to broaden its offering for business owners preparing to transition their companies, while providing Obsidian with greater operational resources and marketing support.
Through this partnership, Obsidian’s co-founders, Patrick Carroll and Todd Feldman, along with their team, will join Merit. The collaboration allows both firms to leverage Merit’s national infrastructure and operational scale, while preserving Obsidian’s boutique expertise in guiding business owners through exit planning and succession strategies.
This milestone marks the first acquisition since July 2025, when Merit received a minority investment from Constellation Wealth Capital (CWC). This alternative asset manager provides capital and strategic guidance to wealth management firms. The continued pace of acquisitions reinforces Merit’s goal of building a next-generation Registered Investment Adviser (RIA) platform designed to deliver scalable, client-focused financial planning services nationwide.
Advisor: Jeff Nash of Bridgemark Strategies served as advisor to Obsidian during the process.
KEY QUOTES:
“Obsidian’s expertise in business succession planning enables Merit to expand our offering to this underserved market. Their team’s focus on this massive generational wealth transfer—trillions of dollars expected to move from Baby Boomers, particularly who own private companies, to new owners in the coming years—aligns perfectly with Merit’s mission to better serve this client base.”
Tyler Vernon, Managing Principal and Partner, Merit Financial Advisors
“Obsidian’s primary focus is guiding business owners through a process to plan their eventual exit, and partnering with Merit has been a crucial part of our strategy. This partnership enables us to optimize staffing and leverage Merit’s operational support, allowing us to grow and enhance our offering.”
Todd Feldman and Patrick Carroll, Partners, Obsidian Planning Solutions
