
Merit Economic Advisors announced nowadays that it has acquired Tedstrom Prosperity Advisors Inc. and I.M. Wealth Treatment LLC, two Colorado corporations with a mixed $381 million in belongings, in accordance to a information launch.

The companies were formerly with LPL Economical, according to BrokerCheck.

Denver-based mostly Tedstrom Prosperity Advisors, which focuses on wealth management and monetary setting up, was launched by Peter Tedstrom, who will believe the role of regional director at Benefit. Tedstrom has been in the field considering that 1984 when he started his job with FSC Securities Corporation. He joined LPL in 1989 immediately after shorter stints at a pair of other corporations, in accordance to BrokerCheck.

Tedstrom mentioned he is thrilled that the staff is joining forces with Benefit. “We evaluated a variety of distinct potential partners, but Merit’s crew checked all the bins,” he explained in a assertion. “This changeover will let our team to centralize decide on functions, produce economies of scale and provide additional time for my team to personally join with clientele and prospects.”

I.M. Wealth Treatment, which has places of work in Greenwood Village and Colorado Springs, has been an unbiased advisor lover of Merit’s for practically a few decades, the release mentioned. The company has also been affiliated with LPL given that 2019. It specializes in economic preparing, financial investment management and business consulting, such as the layout and management of firm retirement options, the release explained.

I.M. Wealth Care, the release mentioned, will go on to use Merit’s back-business and operational expertise. The crew will be led by I.M. Prosperity Care’s Kate Redden, who will think the position of taking care of partner.

“Merit has been a supportive companion of I.M. Wealth Care, and we had been eager to formalize our partnership,” claimed Redden, who commenced her occupation in 1992 with IDS Existence Coverage Business and American Convey Economic Advisors, according to BrokerCheck. “The business has been important to our advancement, and our expanded romance also usually means we’ll be featuring increased providers for our customers. We are seeking ahead to working with the Tedstrom staff to bolster Merit’s existence in Colorado.”

Rick Kent, CEO and founder of Advantage, claimed establishing a strong presence in the Denver space has been a precedence for the organization, and Tedstrom and I.M. Wealth Treatment carry the great combination of experience, flourishing enterprises and solid local community roots to make this occur.

These two latest acquisitions are Merit’s fourth and fifth considering that having a minority investment decision in December 2020 from Prosperity Companions Cash Group and a team of strategic traders led by HGGC. The mergers, which were being finalized on March 31, 2021, collectively maximize the firm’s obtained property by $381 million. The money and lawful terms of the deal had been not disclosed.

Atlanta-dependent Benefit Economical Advisors specializes in monetary preparing and wealth administration remedies for significant-internet-worthy of folks and family members and people navigating lifetime transitions. The firm has 25 places of work through the U.S. and managed $6.3 billion in assets as of April 1 ($4.45 billion in advisory and $1.72 billion in brokerage belongings, with $112 million in property beneath advisement).
