The partnership enhances Merit’s presence in South Florida and New Jersey, adding $557M in assets under management and a new line of business, which facilitates margin lending, reporting, and other consulting services to families, representing $1.6 billion in assets
Merit Financial Advisors, a Georgia-based financial advisory firm that specializes in financial planning and wealth management solutions for high-net-worth individuals and families and those navigating life transitions, has merged with Biltmore Capital Advisors and Stone Creek Capital Management. The merger solidifies Merit’s existing presence in South Florida and adds significant talent and scale to the firm’s dynamic investment offerings and expertise.
Based in Boca Raton, Florida, and Princeton, New Jersey, Biltmore is an independent registered investment adviser that provides comprehensive wealth and investment management and financial planning services for affluent individuals, families, executives, and business owners. The firm’s affiliated company Stone Creek, which offers services to those seeking margin lending, portfolio reporting, research, and other consulting services, will continue to operate as a stand-alone business line within the Merit family of companies. Biltmore and Stone Creek are led by D. Tyler Vernon and Timothy Ralph, both of whom will assume new roles at Merit and will be joined by their entire team. Vernon will serve as Regional Director and Ralph will become Managing Partner.
“Merit’s growth objectives are centered on our commitment to providing additional capabilities, expertise and access for our clients,” said Kay Lynn Mayhue, President of Merit. “The partnership with Tyler, Tim, and the Biltmore and Stone Creek teams exemplifies this. Having known Tyler for over 20 years, I have watched him build an incredible business and team. This merger is bringing a tremendous amount of talent and an entirely new business line to Merit, and we are extremely excited to welcome the Biltmore and Stone Creek teams to the firm.”
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Vernon added: “As we look to the future, we have a clear eye toward growth and enhancing our offerings for our clients. The partnership with Merit will propel this mission, allowing us to serve a wider client base with our consulting business and proprietary investment management strategies, while positioning us for future growth opportunities.”
This is Merit’s third partnership announcement since taking a minority investment in December 2020 from Wealth Partners Capital Group (“WPCG”) and a group of strategic investors led by HGGC. In 2021, Merit announced its acquisitions of Consilium Financial Group based in Roswell, Georgia, and the business of Brian Fisher, an Arlington, Texas-based independent practitioner. These investments support Merit’s goals of aligning with like-minded advisors and teams, bolstering its growth within existing geographies, and establishing a nation-wide presence.
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“Like all high-growth wealth management firms, Merit depends first and foremost on talent,” said Rich Gill, Senior Partner of WPCG. “We could not be more excited for the combination of Biltmore, Stone Creek, and Merit, which will harness the exceptional capabilities of the combined teams and give them access to the expanded services and scale of Merit. We view this partnership as an important step on the road to Merit becoming the leading hybrid advisory firm in the country.”
The merger was finalized on December 31, 2021 and adds $557 million in assets under management, together with consulting services on an additional $1.6 billion in assets.
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