Merit Financial Group, an independent registered investment advisory (RIA) firm, announced its strategic combination with two leading independent financial advisory businesses, Botsford Financial Group (Botsford) and Financial Development Systems (FDS).
Key highlights of the strategic combination are:
- Botsford Financial Group — a financial planning firm for high-net-worth (HNW) clients specializing in retirement and asset preservation planning for successful business owners and senior executives of Fortune 500 companies — will be led by its president, Kay Lynn Mayhue.
- Mayhue will ensure continuity of service for all Botsford clients while partnering closely with Merit’s leadership team to align Botsford’s HNW strategies and experience with financial advisers across the combined Merit organization. Botsford’s comprehensive HNW capabilities will enable Merit to significantly expand its presence in this client segment.
- Erin Botsford, founder of Botsford Financial Group and a widely recognized thought leader on investing, risk management and retirement planning, will serve as a strategic business development officer in order to build further momentum toward Merit’s future growth.
- Financial Development Systems, an independent advisory firm that provides holistic wealth management services including investment management and retirement planning, together with income, education and estate planning and tax strategies, is expected to contribute significantly to the success of the combined firm due to its professionals’ extensive experience and the firm’s large client base, among other factors.
- Merit has served FDS as its OSJ since 2014, while FDS has utilized Merit’s investment committee to help guide its risk-managed advisory accounts. FDS will operate as a partner under the Merit brand and platform going forward. Jody Owenby, previously FDS’ president, was appointed senior partner at Merit. Greg Gerhard, previously COO and CEO, will play a key role in the combined firm as a partner and chief internal strategy officer.
Based in Alpharetta, Ga., Merit Financial Group has approximately $2.6 billion in total client assets, of which $1.3 billion are in regulatory assets under management and $1.28 billion are in brokerage assets serviced. Founded in 1995, Merit provides independent financial advice for individuals and families; financial wellness options for company retirement plan sponsors, retirement plan advisers and third-party benefits consultants; and comprehensive super office of supervisory jurisdiction services for retirement plan–focused independent financial advisers affiliated with LPL Financial.
