Neuberger Berman Buys Equity Stake in Merit Financial Advisors

Merit Financial Advisors has secured another round of capital investment, selling a stake to fund manager Neuberger Berman.

The cash infusion will help Merit, which has $9 billion in assets under management, finance more purchases of registered investment advisor firms, continuing its role as an aggressive acquirer. Latham & Watkins, which represented Neuberger Berman Capital Solutions in the deal, said the cash infusion intended to “fund a series of accretive mergers and acquisitions.”

It’s…