Merion operates as a platform for independent registered investment advisors and breakaway wirehouse advisors. It is actively recruiting seasoned advisors who cater to affluent and high net worth families.  

“Our strength in the areas of asset management, risk management and estate plan design allows advisors to compete against larger, less flexible firms,” Bob Andres, founding partner and chief investment officer, said in a statement.

Merion has more than $250 million under management and expects upcoming deals will boost that figure to $1 billion towards the end of the first quarter in 2011.

“Our model provides advisors with the flexibility to partner with the firm through several arrangements including regional launch partnerships, affiliations or full scale mergers and acquisitions,” Paul Beideman, chairman and chief executive said.

Andres was formerly chief strategist at the Portfolio Management Consultants division of Envestnet. He also co-founded asset manager Martindale Andres & Associates and served as president of Merrill Lynch Mortgage Capital Corp.

Previously Beideman was chief executive of Associated Bank in Wisconsin. He also spent 14 years at Mellon Financial.