Merit Financial Advisors acquires RCM Investments, opens Utah office

Merit Financial Advisors, an Atlanta-based financial advisory firm that specializes in financial planning and wealth management solutions for high-net-worth individuals and families, has acquired RCM Investments of American Fork.

The acquisition marks Merit’s first office in Utah, expanding its national footprint and adding $281 million in assets.

RCM offers comprehensive wealth management services, including investment management, retirement income planning, insurance analysis and estate and tax planning.

“Known for its trusted client connections and expertise in serving mass affluent and high-net-worth clients throughout Utah, the firm will leverage Merit’s centralized services and back-office support to focus on organic growth opportunities,” Merit said of the transaction.

RCM’s four principals — Tony Riggs, president and chief investment officer; Craig Riggs, partner and executive vice president; Cameron Foster, partner and executive vice president; and James Houston, partner and senior portfolio manager — will join Merit as wealth managers and partners.

“Partnering with Merit allows us to align with a larger organization that shares our commitment to personalized service and long-term client success,” said Tony Riggs. “With access to Merit’s resources and support, we’ll have more time to focus on what matters most: helping our clients reach their goals.”

This is Merit’s 37th acquisition since December 2020. In May, Merit acquired Safeguard Wealth Management of Wisconsin, which expanded Merit’s assets by $597 million and strengthened its digital marketing capabilities, the company said.

“RCM’s experienced team and solid client relationships make them an ideal partner as we enter the Utah market,” said Tait Lane, managing principal and partner at Merit. “We were drawn to RCM’s long-term vision — their principals have a 10-plus-year runway and a strong focus on service and organic growth. We’re excited to support their continued success through the tools, expertise and scale Merit brings.”

The merger was finalized on May 30. The financial and legal terms of the deal were not disclosed.