New York-based minority investor Merchant Investment Management has made its latest bet on Meridian Wealth Management, a $4.2 billion registered investment advisor, partly to help it add advisors and assets.
In addition to growth capital, Merchant will provide Meridian with resources and access to its network of independent advisory and financial services firms, which recently have included adjacent services to wealth management, such as trust and tax services.
Lexington, Ky.-based Meridian was founded in 2010 by Greg Couch and has grown to about 23 employees, according to its website. Since 2022, the firm has more than doubled its assets under management from $1.8 billion to $4.2 billion and added over 20 new advisors and six offices for a total of nine locations.
The RIA is multi-custody with Fidelity, Pershing and Schwab, according to its Form ADV, and is focused on high-net-worth families, institutional investors and nonprofit organizations.
“Partnering with Merchant allows us to deepen that commitment while accelerating our national growth,” Couch said in a statement. “Their long-term mindset and collaborative approach align perfectly with our values and our mission.”
Merchant has stakes in 115 firms and RIA practices in six countries, collectively managing over $250 billion in assets. It has recently been investing in wealth management adjacent services such as trust, tax and accounting to offer those partnered services to its advisor network. In July, it also took a stake in a business valuation services firm that it said could provide services to RIAs’ business-owning clients. Earlier in the year, Merchant-backed Fin.Link, a platform for wealth managers, announced it was working with investment bank Republic Capital Group to offer advisors valuations of their practices.
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