Kay Lynn Mayhue Named CEO of Merit Financial Advisors

Merit Financial Advisors, an Atlanta-based wealth management firm serving high-net-worth individuals and families, registered as Merit Financial Group LLC, announced Tuesday a succession plan that will enable Founder and CEO Rick Kent to become executive chair.

Kay Lynn Mayhue will succeed Kent as CEO, and Zach Mersberger will become president, all effective January 1, 2027.

The planned transition “builds on a leadership partnership between Kent and Mayhue that dates back to 2017,” according to the announcement, which touted Mayhue’s experience as a financial adviser and business owner and her involvement in mergers and acquisitions. Previously, Mayhue was president of and a partner in Botsford Financial Group, an Atlanta-based wealth management firm acquired by Merit in 2018.

The firm’s announcement stated that, as CEO, Mayhue will focus on scaling the company and expanding capabilities, while creating more support for advisers.

Kent will remain actively engaged in the firm, according to the announcement, and will increasingly focus on long-term strategy, organic growth, culture and leadership development.

“Part of building an enduring organization is creating the leadership capacity for the firm to continue evolving,” Kent said in a statement. “This structure allows me to remain deeply involved in Merit while giving Kay Lynn and the broader leadership team greater opportunity to lead the firm forward.”

The incoming president, Mersberger, is a second-generation wealth adviser who was the CEO and chief operating officer of Mersberger Financial Group, a Wyoming-based wealth management group acquired by Merit in 2022.

Several other Merit executives are also expanding their roles at the start of 2027. Brian Andrew, Merit’s executive vice president and CIO, will add the title of chief strategy officer. Chrissy Lee, chief operating officer, will assume the additional title of chief enterprise officer. Alex Hansen, chief adviser success officer, will also take on expanded leadership responsibilities regarding adviser success, organic growth and wealth solutions.

Merit, founded in 1995, announced nine acquisitions this year, including the California-based wealth management firm Bridgeway Group LLC in August. In March, Merit announced a partnership with fintech company OneVest Technologies Inc., to integrate OneVest’s platform into Merit’s advisory workflows.

Last year, Merit was the third-most-active M&A participant in the registered investment advisory space, announcing 16 deals and acquiring $7.7 billion in assets, according to Echelon Partners.

As of September 12, Merit had approximately $32.9 billion in assets under advisement and management, including $25.6 billion in advisory assets, $2.5 billion in brokerage assets, $3.02 billion in employer plans and $1.8 billion in employee stock ownership plan assets. Merit has more than 500 employees in more than 70 offices nationwide.