Merit Financial Advisors has acquired Sanctuary Wealth Management and Fiduciary Services.
This acquisition will enable Merit to establish a presence in Idaho and grow its assets collectively by $1.6 billion.
Sanctuary, in working with private clients, specializes in investment advisory and portfolio management. In addition to these services, the firm supports corporate clients with a range of retirement and investment solutions, including 401(k) plans. FS, which is a subsidiary of Sanctuary, specializes in employee stock ownership plans (ESOPs), where they serve as transactional and ongoing ESOP trustees for clients. Sanctuary’s partnership with Merit will enable their team to enhance its back-office and administrative support and leverage Merit’s robust technology offerings for its clients. Merit also will be able to expand its offering for corporate clients with the addition of ESOPs. All three owners of the firm — Brett Robison, Gene Clay Esplin, and Joel Phil
