Mercer Advisors acquires California RIA Fabian Wealth Strategies

The deal pushes Mercer toward $10 billion in assets under management

Dec 14, 2016 @ 11:09 am

By Jeff Benjamin

Santa Barbara, Calif.-based Mercer Advisors announced Wednesday morning that it has acquired Fabian Wealth Strategies, a Costa Mesa, Calif.-based advisory firm with $95 million in client assets.

Mercer Advisors is the parent company of Mercer Global Advisors, which has more than $9.4 billion under management and serves more than 6,200 clients.

According to the InvestmentNews RIA Database, Mercer Global ranks among the top 10 RIA firms in the western region of the United States.

“Southern California is definitely a market in which we are keen to expand our already significant presence,” said Mercer CEO David Barton.

Mercer was established in 1985, and its growth has been boosted since it was acquired in 2015, when it had $6 billion under management, by Genstar Capital, a middle-market private-equity firm.

Genstar purchased Mercer from another middle-market PE firm, Lovell Minnick Partners, which bought Mercer in 2008 when the advisory firm managed $4 billion.

“We continue to be very pleased with Mercer's growth, and the company's expansion will accelerate from strategic add-on acquisitions into important and growing geographic markets,” said Anthony Salewski, Genstar managing director and a member of Mercer Advisors' board.

Terms of the Fabian Wealth acquisition were not disclosed.

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