Merit Financial Advisors Expands Operations with Hershey Wealth Advisors Acquisition in Pennsylvania

Merit Financial Advisors Expands with Hershey Wealth Advisors

On February 11, 2025, Merit Financial Advisors, headquartered in Georgia, announced the successful acquisition of Hershey Wealth Advisors, LLC, marking the establishment of its fifth office in Pennsylvania. This strategic partnership further solidifies Merit's commitment to providing comprehensive financial planning and wealth management services tailored to high-net-worth individuals and families.

The integration of Hershey Wealth Advisors, which specializes in financial planning and investment management, is poised to increase Merit's assets under management by an impressive $233 million. Additionally, Hershey offers critical services including assistance with individual, state, and local income tax returns, as well as solutions for long-term care and disability insurance. Gregory K. Richards, the Principal at Hershey, will step into the role of Wealth Manager and Partner at Merit, bringing along the rest of his seasoned team.

Greg Richards expressed optimism about this merger, emphasizing that the alignment with Merit allows Hershey to enhance its service offerings. He stated, "At Hershey, we always put our clients' best interests first. By joining forces with Merit, we're infusing more resources into our offering, providing us more time to spend with clients. The synergy with Merit's infrastructure will allow us to streamline our operations and amplify our reach in the region."

Merit's expansion with this acquisition aligns with its growth strategy, which has seen the firm complete thirty-three acquisitions since it received a minority investment from Wealth Partners Capital Group (WPCG) in December 2020. This acquisition follows Merit's recent addition of Pillar Wealth Management Co. in January 2025, further illustrating the firm's aggressive pursuit of growth.

Tyler Vernon, Managing Principal and Partner at Merit, expressed excitement about the partnership, stating, "We are thrilled to welcome the Hershey team to Merit and establish a presence in this thriving area of Pennsylvania. Greg and his team of professionals are closely aligned with Merit's core values, and we look forward to a prosperous collaboration."

This merger has a historic context as it was finalized on February 7, 2025, highlighting the rapid pace of growth and integration initiatives taken by both firms. While the specific financial and legal terms of the deal remain undisclosed, FP Transitions served as the sole advisor in this transaction, ensuring a seamless valuation and integration process.

About Merit Financial Advisors

Merit Financial Group, LLC, operates under the name Merit Financial Advisors and is recognized as a national wealth management firm. The company supports both independent broker-dealer and Registered Investment Advisor (RIA) models, with the overarching mission of enriching the lives of its clientele. As of June 30, 2024, Merit managed approximately $11.84 billion in assets across over 40 locations nationwide.

Merit is committed to revolutionizing the client experience and has positioned itself to lead the RIA of the future, catering to a growing demographic of individuals navigating complex financial landscapes. For more information about their services, one can visit Merit Financial Advisors.

About Hershey Wealth Advisors

Hershey Wealth Advisors has built its reputation on tailoring financial strategies to the unique needs of its clients, solidifying its role as a trusted partner in wealth management. The firm's integration into Merit signifies a potent merger, blending expertise and resources to better serve clients in Pennsylvania and beyond.