The new firm Homestead Wealth Management will be based out of Glendale, Ariz. The two advisors have about $150 million in advisory and brokerage assets under management.
The regulatory agency is looking to see if it should change its rules and operations to better address challenges faced during the pandemic.
Merchant has made another minority investment—this time in Miracle Mile, a Los Angeles–based RIA firm with $2 billion in assets.