Press Release

Merit Financial Advisors Partners with Sanctuary Wealth Management and Fiduciary Services; Adds First Office in Idaho

Issued by Merit Financial Advisors

Mar. 23, 2025

ATLANTA, March 18, 2025 /PRNewswire/ -- Merit Financial Advisors ("Merit"), 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, announced today it has acquired Sanctuary Wealth Management, LLC ("Sanctuary") and Fiduciary Services, LLC ("FS"). 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 will also 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 Phillips, will be taking on the role of Wealth Manager at Merit and will be joined by the rest of their team.

"We are incredibly optimistic about the future and the enhanced services we will be able to provide as a result of this merger," said Brett. "Our collaboration with Merit opens up a world of possibilities, and we can't wait to explore them with our clients."

This is Merit's thirty-fourth acquisition since taking a minority investment in December 2020 from Wealth Partners Capital Group ("WPCG") and a group of strategic investors led by HGGC's Aspire Holdings platform. This is also Merit's second largest acquisition to date. Last month, Merit acquired Hershey Wealth Advisors, LLC, which expanded Merit's assets by $233 million and added its fifth office in Pennsylvania.

"We are regularly working to strengthen Merit by expanding our ability to serve more clients within the West Coast, a goal we've achieved through our partnership with Sanctuary Wealth Management and the Fiduciary Services teams," said Tait Lane, Managing Principal and Partner at Merit. "With more than 20 years of experience serving high-net-worth clients and corporate clients, Brett, Clay, Joel, and their team will help elevate our expertise in these areas. Partnering with Fiduciary Services also allows us to continue to build out our corporate plan offerings. Merit is committed to partnering with leaders who bring deep industry knowledge, Sanctuary and Fiduciary Services has proven to meet that standard."

The merger was finalized on March 14, 2025. Alaris Acquisitions, an M&A advisory firm specializing exclusively in the wealth management industry, acted as the advisor for this transaction. Financial and legal terms of the deal were not disclosed.

About Merit Financial Advisors

Merit Financial Group, LLC, doing business as Merit Financial Advisors ("Merit"), is a national wealth management firm that supports both the independent broker-dealer and RIA models. Merit exists to enrich the lives of those they serve, and its mission is to revolutionize the client experience by building the RIA of the future. Based in Atlanta, Georgia, Merit has over 40 offices throughout the U.S. and managed $12.27 billion in assets as of December 31, 2024 ($9.9 billion in advisory, $2.05 billion in brokerage assets, and $332 million in assets under advisement). For more information, please visit www.meritfinancialadvisors.com. Investment advice offered through Merit Financial Group, LLC, an SEC registered investment adviser.

About Wealth Partners Capital Group Wealth Partners Capital Group (WPCG) is a financial services holding company, which invests in and partners with select leading wealth management firms. WPCG assists its partner firms by identifying and integrating like-minded wealth advisers who seek access to expanded business capabilities, strategic growth and/or customized transition solutions. For more information, please visit www.wealthpcg.com.

About HGGC HGGC is a values-driven, partnership-focused private investment firm. The firm's ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long-term value together. HGGC invests in technology, business services, financial services and consumer enterprises generally valued between $200M – $1.5B+. The firm is based in Palo Alto, CA and manages over $8 billion in cumulative capital commitments. Since its inception in 2007, HGGC has completed more than 700 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $80 billion. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. More information, including a complete list of current and former investments, please visit www.hggc.com.

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