Merit Grows PA Presence with $233M Hershey Wealth Purchase

Merit Financial Advisors announced the acquisition of Hershey Wealth Advisors, located in Hershey, PA, in a deal that closed on February 7, adding $233M in client assets and establishing its fifth office in Pennsylvania.

Hershey Wealth Advisors is a six-member team led by Greg Richards, who will take on the role of wealth manager and partner under Merit. The firm, which was previously affiliated with Purshe Kaplan Sterling and Osaic, has over four decades of combined experience in providing wealth tailored financial planning solutions.

Hershey is the first acquisition by Merit since recruiting David Wahler as its new vice president of strategic partnerships last month and its 33rd since receiving a minority investment from Wealth Partners Capital Group and HHGC’s Aspire Holdings platform in 2020. Neuberger Berman Capital Solutions joined them to back Merit with a minority investment in October 2023.