Atlanta-based Merit Financial Advisors has recruited another team from Commonwealth Financial Network, according to an announcement from the $30-billion RIA on Wednesday.
The Bridgeway Group, a nine-person team that includes five advisors, was overseeing around $900 million in advisory and brokerage assets at Commonwealth, according to the announcement. The team works from two offices in Los Angeles.
Led by Matthew B. Dupon, Sean A. Montgomery and Scott E. Miller, who have joined Merit as equity partners, the group includes financial advisors Leo Wai, Arin Hovanesian and four support staff. They adopted the Merit brand when the deal closed on July 31.
Terms were not disclosed.
Since announcing its sale to LPL Financial in early 2025, Commonwealth has lost six teams to Merit. Recent moves include $420 million-asset Pradel, $860 million Global Wealth Advisors and $1.2 billion Blueprint Wealth Advisors.
“There is a difference when the people leading an organization have actually sat across the table from clients and understand an advisor’s day-to-day responsibilities,” Dupon said in a statement about their move.
Montgomery added that their experience with Commonwealth, which was known for its close-knit culture, was “incredibly positive” and touted the accessibility of Merit’s leadership and support.
An LPL spokesperson did not immediately respond to a request for comment.
Miller joined Commonwealth in 2018 after beginning his career less than a year earlier with another Los Angeles-based RIA, Genter Capital Management.
Dupon and Montgomery first registered with independent broker-dealer Cetera, in 1998 and 2001, respectively. Dupon spent about three years dually registered with another RIA called Hind Financial Group before they both jumped to Commonwealth in 2013.
The deal to buy the Bridgeway practice represents Merit’s ninth M&A transaction of the year, according to the announcement.
Merit completed at least 13 transactions in 2025, according to a tally from industry investment bank DeVoe & Co. That was up from five in 2024 and eight in 2023.
Backed by Constellation Wealth Capital, Merit is majority owned by leadership and employees. The RIA has more than 150 advisors, according to its website.
Like this article? Let AdvisorHub come to you! Sign up