Focus FinancialPartners has snapped up a big Seattle wealth management firm.

Merriman , a fee-only wealth management firm based in Seattle, announced Monday it closed a deal with Focus Financial on Dec. 31. Although terms of the deal were not disclosed, Merriman CEO Colleen Lindstrom told Financial Planning that the acquisition offered several payoffs: a way to monetize the interests of some of the 30-year-old firm's retirees, the resources to help Merriman expand and the freedom to continue operating independently.

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