Merit Financial and Prizm Announce Strategic Partnership to Modernize Insurance

The partnership reflects a growing trend in the financial industry to combine insurance and wealth management services. This approach gives advisors a more complete view of their clients financial needs while making insurance planning easier, and more effective.

By integrating insurance into financial planning, the partnership aims to improve client outcomes and reduce the complexity often associated with managing insurance coverage.

Merit advisors will now be able to provide clients with a simple, technology-driven insurance experience through Prizm’s platform. Clients can easily review, buy, and manage personal insurance policies, including home, auto, umbrella, and other coverage, as part of their overall financial plan.

Prizms platform simplifies the insurance process by combining digital tool's connections to insurance carrier's and support from licensed insurance professionals. Client's can securely share their current policy information and receive expert guidance throughout the process.

The platform also provides insurance recommendations tailored to each client’s financial situation and risk profile, making it easier to find and manage the right coverage.

Prizm has quickly expanded its presence in the wealth management industry through partnerships with registered investment advisors (RIAs), financial planning firms, and advisor technology providers. Earlier this year, the company partnered with Holistiplan to integrate insurance workflows directly into advisors’ financial planning processes.

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"Insurance is one of the most overlooked components of financial wellness," said Dave Olchowka, CEO and Co-Founder of Prizm. "Merit has built an exceptional advisory business centered around comprehensive planning and client experience, and we're excited to partner with their team to make insurance easier, more transparent, and more integrated into the financial planning process."

"Our advisors are constantly looking for ways to provide more value and a better experience for clients," said Alex Hansen Chief Advisor Success Officer at Merit Financial. Prizm's modern approach to insurance aligns closely with our commitment to comprehensive planning and helps ensure our clients insurance coverage keeps pace with their evolving financial lives."

About Merit Financial Advisors

Founded in 1998 by Rick Kent, Merit Financial Advisors is a national wealth management firm that helps individuals, families and businesses achieve their financial goals. The company provides financial planning, investment management, tax planning support and long term wealth management services through a client-focused approach.

About Prizm

Founded in 2022 by Dave Olchowka, Prizm is a digital insurance platform designed specifically for personal insurance within the wealth management industry. The company works with RIAs, financial planning firms and advisor technology providers to help advisors include insurance as part of a complete financial planning strategy. Prizm combines technology with licensed insurance expertise to simplify insurance quoting, onboarding and policy management, making it easier for advisors and high net worth clients to manage personal insurance coverage.

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