One of Lawrence’s largest accounting and wealth management firms has sold a part of its business to an Atlanta-based company that is looking to expand into Kansas.

Lawrence’s SSC CPAs + Advisors has agreed to sell its wealth management division to Atlanta-based Merit Financial Advisors. The deal will result in about $260 million of assets that SSC currently manages for high net worth individuals being transferred over to the management of Merit Financial Advisors.

The deal, however, is not a sign that SSC is planning to get smaller or become less active in the Lawrence market. Rather, the deal is expected to produce a new round of growth for SSC. Under the terms of the deal, SSC will continue to own its certified public accounting practice. That CPA division already is a major provider of tax preparation services for individuals and businesses. Under the new deal, SSC is expected to become a major provider of tax preparation services for customers who have their assets managed by Merit Financial Advisors.

That could be a large opportunity for SSC, as Merit currently has 55 offices across the U.S., and manages a little more than $20 billion in assets for its customers.

“We believe deeply in staying true to our core area of focus, comprehensive wealth management,” Rick Kent, CEO of Merit Financial Advisors, said in a press release. “Rather than bringing our tax services exclusively in-house, we are also partnering with one of the most respected CPA firms in the country so our clients can benefit from their expertise.”

The deal includes provisions for Lawrence to be a major part of the new partnership. Michele Hammann, chief strategy officer for SSC CPAs + Advisors, told the Journal-World that SSC will continue to operate its west Lawrence office, and that it also will become a joint office for Merit advisors.

“You will see the name SSC and Merit together a whole bunch more,” Hammann said.

While SSC was founded in Topeka, Lawrence has become a hub for the company’s corporate leadership since expanding into the Lawrence market in the 1990s. That includes Hammann, who will be taking on a new role as part of the deal. She will continue to serve as chief strategy officer for SSC, but also will become a regional vice president and partner for Merit.

Hammann said the deal, terms of which were not disclosed, provided a lot of synergies that interested SSC in moving forward with the transaction. She said Merit has a deeper set of connections with experts in certain realms of wealth management, such as estate planning, Medicare management and other advanced topics.

Hammann said SSC also was confident that its team would be providing a lot of new capabilities to Merit’s operations, as SSC has expertise in complicated tax returns, and operates a practice that helps create strategies for business owners who are looking to successfully exit their businesses.

Under the deal, the remaining portions of SSC CPAs will continue to be an employee-owned company, and current CEO Brian Lang will remain in that position for SSC.

The deal will give Merit three locations in Kansas, with offices in Lawrence, Topeka and Overland Park. SSC — which has grown from less than 10 employees to about 100 employees since its 1984 founding — will continue to operate eight offices throughout Kansas and Oklahoma.