Ex-Commonwealth Adviser’s $420M Practice Joins Merit Financial
Atlanta-based registered investment adviser Merit Financial Advisors has acquired Pradel Financial Group, a Seattle-based wealth management firm with nearly $420 million in assets under management, extending Merit’s footprint into the Pacific Northwest. Pradel Financial serves approximately 110 high-net-worth client households.
Pradel Financial Group will rebrand to Merit Financial Advisors. Financial and legal terms of the transaction were not disclosed.
The transaction marks Merit’s 58th acquisition and continues a national expansion strategy that has brought the firm to more than 55 offices across the country and approximately $26 billion in total assets under management.
Pradel Financial Group was founded more than two decades ago by Paul Pradel, who spent 23 years as a Commonwealth Financial Network adviser. Pradel will join Merit as a wealth adviser partner, bringing with him longtime team member Jessica Moore, who will serve as client relationship manager. The two have worked together for more than 20 years, building what Pradel describes as a “family office” feel for a select group of clients.
“From the beginning, this decision was about finding the right long-term partner for our clients, Jessica and me,” Pradel said. “I wanted a firm that felt nimble, collaborative and growth-oriented, where I could continue to deliver the same high-touch experience while also expanding what’s possible for our clients.”
The timing of Pradel’s departure from Commonwealth carries its own context. Commonwealth Financial Network is currently in the process of being converted onto LPL Financial’s platform following LPL’s acquisition of the firm – a transition that has prompted a number of long-tenured Commonwealth advisers to reassess their affiliation options. Pradel’s move to an RIA model via Merit reflects a pattern playing out across the Commonwealth adviser base as the conversion approaches.
Since the announcement of its sale to LPL Financial in March 2025, a report from AdvizorPro and Muriel Consulting found that 654 advisers – more than 22% of Commonwealth’s adviser base – have moved their registrations elsewhere.
Merit’s chief adviser success officer Alex Hansen emphasized that the firm’s interest extended beyond Pradel’s individual production to the practice he and Moore have built together. “We were particularly impressed not only by his success, but by the intentionality behind how he’s grown, serving a select group of clients at a very high level,” Hansen said.
Succession planning was also a meaningful factor in the decision. As an independent adviser with a relationship-driven practice, Pradel cited long-term continuity for his clients, his team, and his family as a key consideration. “This move gives me a better answer for the long term,” he said. “It’s about building something that extends well beyond me.”
Merit Financial Advisors is backed by Constellation Wealth Capital, an alternative asset management platform focused on the wealth management sector that provides long-term capital and strategic support to scaled advisory firms.
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