Growth-Focused RIA Leaves Commonwealth for Merit

Strategic Retirement Plans, led by advisors in their 30s and 40s, joins Merit Financial Advisors to fuel expansion

Apr. 7, 2026 at 9:51pm

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A photorealistic studio still life featuring a polished metal desk organizer, a sleek laptop, and a glass of water on a clean, monochromatic background, conceptually representing the abstract ideas of growth, strategy, and technology in the wealth management industry.A modern, minimalist studio setup symbolizes the growth-focused mindset driving some younger RIA owners to seek new partners.Gillette Today

Strategic Retirement Plans, a Billings, Montana-based RIA with nearly $577 million in AUM, has left Commonwealth Financial Network to join Merit Financial Advisors. The firm, run by advisors in their 30s and 40s, was drawn to Merit's growth-oriented culture and equity-based compensation model, rather than seeking a big payout to fund retirement.

Why it matters

This move bucks the perception that RIA owners only switch firms to secure a large transition check for retirement. Strategic Retirement Plans' decision to join Merit highlights how some younger, growth-focused advisors are prioritizing a partner that can support their expansion plans over a lucrative exit.

The details

Strategic Retirement Plans was founded nearly 20 years ago as a Commonwealth affiliate by Gabe Lapito and Ryan Gomendi. As Commonwealth grew from 500 to 3,000 advisors, the firm kept pace. Now, Lapito sees Merit as a 'Commonwealth 2.0' - a smaller, more focused partner that can help Strategic Retirement Plans achieve its own growth ambitions. Unlike firms that buy RIAs outright, Merit offers compensation partly in the form of equity stakes, which appealed to Lapito and his team who are focused on continued expansion, not retirement.

  • Strategic Retirement Plans joined Merit Financial Advisors last week.
  • The firm was founded nearly 20 years ago as a Commonwealth affiliate.

The players

Gabe Lapito

One of the founders of Strategic Retirement Plans, a Billings, Montana-based RIA that recently joined Merit Financial Advisors.

Ryan Gomendi

One of the founders of Strategic Retirement Plans, a Billings, Montana-based RIA that recently joined Merit Financial Advisors.

Alex Hansen

The chief advisor success officer at Merit Financial Advisors, a former Commonwealth employee who has helped bring on new advisors like Lapito and Gomendi.

Merit Financial Advisors

An RIA acquirer and partner that has been on a steady growth trajectory since its founding in 1998, now with 60 offices throughout the U.S.

Commonwealth Financial Network

The broker-dealer that Strategic Retirement Plans was previously affiliated with, which was acquired by LPL Financial in 2025.

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What they’re saying

“It bucks the perception that the only people who explore a sale transaction are people who are kind of past that growth-mode phase, like they're kind of taking chips off the table.”

— Alex Hansen, Chief Advisor Success Officer, Merit Financial Advisors

“Part of this concept of equity swap is that it's not like you're just selling out and leaving, like you're 65 and ready to retire. If I was ready to do that, I would take it in cash.”

— Gabe Lapito, Co-Founder, Strategic Retirement Plans

What’s next

Merit Financial Advisors plans to open a new office for Strategic Retirement Plans in Gillette, Wyoming, expanding the firm's geographic footprint.

The takeaway

This move by Strategic Retirement Plans highlights how some younger, growth-focused RIA owners are prioritizing finding the right partner to fuel their expansion plans over simply cashing out. It challenges the perception that advisor M&A is primarily driven by retirement-minded owners looking for a big payout.