Merit Financial Advisors, an Atlanta-based national wealth management firm with $19.94 billion in assets under advisement, has announced a strategic minority investment from Constellation Wealth Capital (CWC). CWC is an alternative asset management platform focused on supporting the long-term growth of independent wealth management firms.
This investment arrives as Merit seeks to expand its advisor platform and national reach amidst increasing demand for wealth management solutions. The partnership highlights CWC’s confidence in Merit’s leadership and future potential.
The new collaboration will fuel Merit’s strategic expansion through both mergers and acquisitions (M&A) and organic growth. It will also support investments in next-generation advisor technology, recruitment, practice management support, and client experience initiatives. Merit, with eight acquisitions already in 2025 and 40 offices nationwide, is committed to providing high-quality financial planning and wealth management services to high-net-worth individuals and families.
Clients can expect continued high-quality service with enhanced resources. CWC’s investment will enhance Merit’s ability to expand its advisor platform and to improve client offerings, while maintaining its advisor- and employee-owned structure and ensuring leadership continuity.
As part of this transition, Wealth Partners Capital Group (WPCG) and a group of strategic investors led by HGGC’s Aspire Holdings platform will be exiting their ownership stakes.
The transaction is expected to close in the third quarter of 2025. Merit will continue to operate under its current name and leadership, with no changes to its operations.
Advisors: Ardea Partners and William Blair advised Merit financially, with Holland & Knight and Kirkland & Ellis providing legal counsel. Goldman Sachs served as financial advisor and Gibson, Dunn & & Crutcher as legal counsel to Constellation Wealth Capital.
KEY QUOTES:
“From the time we met with them, we knew CWC was the right partner to help take Merit into its next phase of growth. Their deep experience in the wealth management space, alignment with our culture, and long-term mindset made this an ideal match. Their investment structure preserves our independence and leadership continuity, which are critically important to our team, our clients, and our future.”
Rick Kent, CEO of Merit Financial Advisors
“This investment marks an exciting chapter in Merit’s journey. CWC’s support will allow us to accelerate our strategic initiatives and further strengthen our capabilities for our advisors and their clients. We remain focused on growing the right way through values-driven leadership and by empowering our team to thrive in service of others.”
Kay Lynn Mayhue, President of Merit Financial Advisors
“We are thrilled to partner with Rick, Kay Lynn, and the entire Merit team. Merit has demonstrated a unique ability to scale while maintaining strong cultural cohesion, delivering exceptional service to clients, and attracting top advisor talent. We are confident that this partnership will fuel continued innovation and growth in the years ahead.”
Karl Heckenberg, President & Managing Partner of Constellation Wealth Capital
“We are incredibly proud of the growth Merit has achieved during our five-year partnership. It’s been an honor to work alongside such a visionary leadership team and to see Merit become one of the most respected and fastest-growing firms in the industry. We are excited to see where the next chapter takes them and will be cheering them on every step of the way.”
Rich Gill, Co-Founder and Partner at Wealth Partners Capital Group
