Merriman Wealth Management, a Seattle-based registered investment advisor with approximately $4.16 billion in assets, has signed an agreement to merge into Focus Partners Wealth, the newly rebranded name of The Colony Group and Buckingham Strategic Wealth, one of Focus Financial Partners’ hub firms.
As part of the merger, Merriman CEO Jeremy Burger will become a division president at Focus Partners Wealth, joining Gerry Goldberg, Wendy Hartman and Sheila Ryan.
The deal marks the ninth for Focus Partners Wealth since Jan. 1, 2024.
WealthManagement.com reported in November 2023 that Focus’ (at the time) new leadership hatched an ambitious plan to consolidate about 90 independently operated subsidiaries into a handful of large firms that would operate as “hubs.”
Earlier that year, Focus went private in a sale to private equity firm Clayton, Dubilier & Rice. All three Focus founders, including former COO Rajini Kodialam, former M&A Head Lenny Chang, and CEO Rudy Adolf, exited around that time.
Focus now has five hub firms, which were recently rebranded, including Focus Partners Wealth; Kovitz, a Focus Partners Firm; SCS Financial, Focus Partners Family Office and OCIO; Gelfand, Rennert & Feldman, Focus Partners Business Management; and Cardinal Point, Focus Partners Canada.
Merriman was founded in 1983 by financial educator Paul Merriman, who retired in 2012, the same year the RIA joined the Focus partners network. Merriman then created The Merriman Financial Education Foundation, which provides free information and tools to help investors make informed financial decisions.
The RIA has since grown to a team of more than 55 professionals across its offices in Seattle, Eugene, Ore., and Bellevue, Wash.
In a statement, Focus said Merriman will gain access to the firm’s planning and investing services, while Focus Partners Wealth will expand its footprint in the Pacific Northwest.
