Merit Adds $888M Commonwealth Advisor in Illinois
Merit Financial Advisors, an Atlanta-based registered investment advisor with $30.1 billion in assets, has brought on financial advisor Tim Brennan and his team, marking the firm’s 11th partnership in 2026 and its 62nd acquisition to date.
Brennan’s practice oversees about $888 million in client assets and works with over 1,000 households from its base in Deerfield, Ill., where Merit said it will remain. The advisor spent nearly 27 years with the Commonwealth Financial Network firm Pinnacle Financial Group, which he co-founded, according to filings. That firm will continue on with co-founder Jim Santos.
“After 37 years in this business, I still love what I do, and I still want to grow,” Brennan said. “What attracted me to Merit was the opportunity to be part of a firm that is building something and continuing to evolve.”
The acquisition expands Merit’s presence in the Chicago market, where the firm had established an office last year through its acquisition of Blueprint Wealth Advisors.
David Wahlen, executive vice president/strategic partners at Merit Financial Advisors, said Brennan spoke to the Blueprint team during his decision-making process, which has been common among the multiple Commonwealth teams that have joined Merit since LPL Financial acquired the independent broker/dealer last year.
“We offer a focus on culture, on collaboration, on healthy competition,” he said. “It’s a tight-knit family with a family that is attractive.”
For Merit’s part, Wahlen said Merit has been working to grow in the Chicago market, and the addition of Brennan’s team in the northern part of the city is a great match for that expansion.
“Tim is exactly the type of advisor and leader we want to partner with as we continue building our presence in Chicago,” Wahlen said. “He has an exceptional track record of serving clients, developing talent and growing his business almost entirely through referrals.”
He also noted that Brennan, who will get equity in Merit through the transaction, has two second-generation advisors who can now grow their careers at Merit.
“Tim wants to spend more time developing his team and less time running a business,” Wahlen said.
Brennan also joins with a $57 million Wisconsin advisory practice that will continue to operate an office in the Fond du Lac/Oshkosh region, where he has maintained a presence for over 15 years.
Merit has been competitive in drawing Commonwealth advisors in a pool of recruiters that includes other large independent broker/dealers such as Cetera, Kestra Holdings and Osaic. In August, the RIA lured a former Commonwealth team in Southern California overseeing about $900 million in client assets.
The deal for Brennan pushes the assets it has brought over from Commonwealth advisors to over $5.7 billion across nine moves, according to Wahlen.
LPL Financial, which acquired Commonwealth last year, is expected to transition all of the Commonwealth client assets to its platforms this November.
