Merchant Investment Management has acquired an undisclosed minority stake in Fusion Family Wealth as part of its strategic partnership with the firm.
Financial details of the deal were not disclosed.
Founded in 2013, Fusion specialises in behavioural-based wealth planning strategies and investment management services.
The firm oversees more than $1bn in assets on behalf of private households, as well as 401(k) retirement plans for professional service organisations, including accounting and law firms.
Merchant’s minority investment will enable Fusion to tap additional growth opportunities and expand its presence in the behavioural finance space.
As part the partnership, Merchant will extend its M&A resources to support Fusion’s organic as well as inorganic growth.
Merchant managing partner Tim Bello commented: “The team at Fusion has built a behavioral finance engine that could only come from the registered investment advisory (RIA) world.
“Jon’s behavioral vision is brilliant, and he and Chief of Staff Amy Blau are long standing personal friends. That personal connection sits at the top of the list for me. Being shoulder to shoulder with people we know and can trust.”
The latest deal comes following a series of strategic investments by Merchant in the RIA space.
Earlier this month, the firm took minority equity ownerships in Minnesota-based Summit Investment Advisory Service and River Wealth Advisors.
In December last year, Merchant announced a long-term, minority stake investment in $3bn multi-shore firm Brainvest Wealth Management. The deal was part of the firm’s effort to accelerate strategic opportunities across the US, Latin America, Europe and Asia.