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Jul 13 2017

Mercer Advisors Buys RIA with $160 Million AUM

Mercer Advisors Inc., a Santa Barbara-based registered investment advisor, has acquired Wealth Design Services, a Rochester, New York-based RIA with approximately $160 million of assets under management and includes a tax practice.

Wealth Design Services founder and president Steven Schwartz and his team will continue with the company and help expand Mercer’s footprint in New York and the Northeast.

Mercer has acquired seven RIAs since January 2016 including Spruce Hill Capital with $112 million in assets under management, Kanaly Holdings with $2.1 billion in AUM, Pegasus Advisors with $55 million in AUM, Fabian Wealth Strategies with $95 million in AUM, Novos Planning Associates with $100 million in AUM, and most recently Duckworth Wealth Advisors with $160 million in AUM.

Mercer Advisors is the parent company of Mercer Global Advisors, one of the nation’s largest registered investment advisors and financial planning firms. This latest transaction increases Mercer’s assets under management to $10.6 billion, with 7,600 clients nationwide. Mercer Advisors is privately held, has more than 200 employees, and operates nationally through 24 branch offices across the country.

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Article by: The DI Wire

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