3 articles · Updated · Insurance Business · Jun 17
Summary
Merit Financial Advisors will add Prizm’s home, auto, umbrella and other personal-lines recommendations to its wealth platform, pushing insurance directly into advisor-led client planning.
Prizm’s model links RIAs to carrier access, digital intake and licensed specialists, letting advisors raise insurance needs without holding insurance licenses themselves.
The target is the affluent end of personal lines: the U.S. high-net-worth market generates about $40 billion to $45 billion in annual premium, while mass-affluent households hold roughly $25 trillion in financial assets.
That move adds pressure on independent agents from the opposite end of the market, as AI-driven direct quoting tools such as Liberty Mutual’s ChatGPT integration attack simpler personal-lines business.
The Merit-Prizm deal fits a broader convergence between insurance and wealth management, with firms including Alliant and Thrivent also expanding integrated advice models.
When your wealth advisor offers insurance, are you getting expert advice or just a convenient upsell?
Financial advisors are now selling insurance. Is this the final blow for the traditional independent agent?
Integrating Insurance and Wealth Management: The 2026 Merit-Prizm Partnership and the Future of High-Net-Worth Financial Planning
Overview
Merit Financial Advisors has formed a strategic partnership with Prizm Insurance to integrate personal-lines insurance into their wealth management services. This move aims to enhance the value and experience for Merit's clients by offering a more holistic approach to financial well-being. The partnership reflects a broader industry trend where financial advisors are adopting new tools and platforms to include insurance in client conversations. By combining Merit’s commitment to comprehensive planning with Prizm’s modern insurance solutions, advisors can ensure clients’ coverage stays current and responsive to their changing financial needs.