Atlanta-based Merit Financial Advisors announced today that it has acquired WIlliamsport, Pa.-based Planned Futures in a merger.
Planned Futures will bring $460 million in client assets and a presence in North Central Pennsylvania to Merit, which is now a hybrid RIA managing $8.1 billion in client assets.
Led by James Arnold and John Keene Jr., Planned Futures offers investment management and retirement planning to state employees and mass affluent clients. Keene and Arnold will join Merit as regional directors and partners and will be joined by their team of more than 10 professionals.
“Expanding Merit’s presence in Pennsylvania has been a focus for some time, and we are very pleased to have James and John lead the charge,” said Rick Kent, CEO, and founder of Merit, in a prepared statement. “Their team’s expertise, service offerings, and culture align exceptionally well with our core values; we are incredibly synchronized in nearly every aspect.”
Planned Futures becomes Merit’s 19th acquisition since a strategic investment from Wealth Partners Capital Group and a group of investors in December 2020. The merger also complements Merit’s acquisition of TFG Wealth Management, INVEX Financial and WealthPlan, which added $424 million in assets and two new Pennsylvania offices earlier this year.
The merger was finalized on May 19. Additional terms of the transaction were not disclosed.