Alternative asset manager Constellation Wealth Capital (CWC) has agreed to take a minority stake in Merit Financial Advisors, an Atlanta-based RIA.

Financial details of the deal were not revealed.

The deal is slated for completion in the third quarter of 2025, with Merit retaining its existing name and leadership without operational changes.

Concurrently, Wealth Partners Capital Group (WPCG), which has held a minority stake in Merit since 2019, along with a group of investors led by HGGC’s Aspire Holdings platform, will exit their ownership positions.

With $19.94bn in assets under advisement, including $14.06bn in advisory, $2.6bn in brokerage, and $3.28bn in retirement plan and ESOP assets, Merit aims to leverage this partnership to enhance its expansion efforts.

This investment aligns with Merit’s goals to scale its advisor platform and expand its national presence.

Merit said that the alliance with CWC will help it enhance its advisor platform, improve client services, and invest in advanced technology while maintaining its advisor and employee-owned structure.

Merit CEO Rick Kent said: “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.”

In 2025 alone, Merit has completed eight acquisitions, bringing its total to 40 offices across the US and a workforce of more than 300.

Ardea Partners, supported by William Blair, was the lead financial advisor to Merit, while Goldman Sachs was financial advisor to CWC.

Holland & Knight and Kirkland & Ellis offered legal counsel to Merit, while Gibson, Dunn & Crutcher provided legal advice to CWC.

Last month, Merit acquired RCM Investments, marking its first office in Utah.

This acquisition added $281m in assets to Merit’s portfolio.

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