Merit Financial Advisors has acquired The Bridgeway Group, a nine-person team from Commonwealth Financial Network overseeing about $900 million in client assets. The Southern California-based team, with offices in Pasadena and Covina, is led by partners Matt Dupon, Sean Montgomery and Scott Miller. This marks the sixth former Commonwealth team to join Merit since LPL Financial acquired Commonwealth last year, with those six teams representing about $4.7 billion in combined client assets. Merit, which oversees $30.1 billion in total client assets, continues to expand nationally through acquisitions and recruitment of Commonwealth advisors.
LPL Financial Holdings IncLPL's acquisition of Commonwealth is driving advisor team departures, and Merit's acquisition of a Commonwealth team is part of that trend, potentially benefiting LPL through increased platform assets.
LG Display Co. Ltd.Merit acquires The Bridgeway Group, expanding its assets under management.
The Bridgeway Group is the acquired team, joining Merit, which is a positive development for the team.
