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Mercer Global Advisors Expands Presence and Boosts Assets


Denver-based Mercer Global Advisors, a nationwide registered investment advisor, has recently completed two significant acquisitions, bringing its total assets under management to approximately $1.4 billion. As a result of these transactions, Mercer will extend its reach in California and Texas, welcoming nearly 1,000 new clients into its growing book of business.

Private Asset Management Acquisition

Mercer announced its acquisition of San Diego-based Private Asset Management, a well-established firm with a client base of over 600 individuals and approximately $720 million in managed assets. This strategic move further solidifies Mercer’s presence in California and allows the company to provide its renowned services to a wider audience.

Mercer CEO Dave Welling highlights the alignment between the two companies, emphasizing that Private Asset Management is a “perfect cultural fit.” Both organizations share a common mission, vision, and dedication to putting clients’ interests first.

Steward Wealth Management Acquisition

In addition to the Private Asset Management deal, Mercer also completed the acquisition of Steward Wealth Management. Located in Colleyville, Texas, in the Dallas-Fort Worth area, Steward manages around $680 million in assets on behalf of approximately 340 clients.

This acquisition strengthens Mercer’s presence in Texas and positions the company as one of the leading independent RIAs in the state. Welling expresses his excitement about bringing the Steward team on board, recognizing their expertise and their ability to elevate Mercer’s offerings in Texas.

Mercer’s Prominence in the Industry

Despite being established in 1985, ahead of many of today’s prominent RIA aggregators, Mercer has rapidly grown through strategic acquisitions. In 2021 alone, Mercer acquired 16 RIAs, solidifying its position as one of the most active acquirers in the industry. With last year’s acquisition of 19 firms, Mercer surpassed its nearest competitor, Wealth Enhancement Group, by six deals, according to DeVoe & Co.’s annual summary.

As of 2022, Mercer manages an impressive $48 billion in client assets, ranking No. 8 on the prestigious Top RIA list. The company’s consistent growth and dedication to putting clients first have made it a trusted choice among investors seeking professional advice and expertise.

Mercer’s recent acquisitions further demonstrate its commitment to expanding its reach and delivering exceptional financial services to clients across the country. With a strong foundation and a forward-thinking approach, Mercer Global Advisors continues to excel in the ever-evolving investment advisory industry.

Mercer Raises Capital and Expands Service Offerings

Mercer, a renowned wealth management firm, recently experienced a significant boost in its financial standing. The company successfully raised additional capital by selling a stake to Atlas Partners, a prominent Canadian private-equity firm. This strategic move brought Atlas Partners on board as Mercer’s third private-equity backer and valued the firm at an impressive $3 billion.

While wealth management remains Mercer’s core expertise, the firm’s latest acquisitions have broadened its service offerings to clients. One of these acquisitions is Private Asset Management (PAM), a company that not only provides wealth management services but also specializes in tax planning and preparation. PAM also boasts an extensive client roster consisting of businesses, charities, and retirement plans.

Jeffrey Witt, the CEO of PAM and a Certified Financial Planner, emphasizes his firm’s commitment to delivering top-notch services to high-net-worth and ultrahigh-net-worth clients, including multigenerational families. Witt underscores the importance of finding a partner that shares their dedication to providing an enhanced service experience beyond financial planning and investment management.

Similarly, Steward, another recent addition to Mercer’s portfolio, offers a range of financial planning and tax services, as well as expertise in estate planning. Vince Hawkins, a seasoned industry veteran and co-founder of Steward, explains that the decision to sell to Mercer was driven by the firm’s desire to bolster its service model. Recognizing the need for scalability and expanded services for their clients, Hawkins and his team found a compelling cultural fit with Mercer. They were particularly drawn to Mercer’s in-house capabilities in estate planning, tax planning, return preparation, and various other services.

With these strategic acquisitions and partnerships, Mercer solidifies its position as a leading wealth management firm while simultaneously diversifying its service offerings to meet broader client needs. The collaboration with Atlas Partners injects fresh capital and expands growth potential for Mercer, fostering an exciting future for the company and its clients.

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