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.

0
Comments

What do you think?

View comments

Most watched

INTV

Young advisers envision a radically different business in five years

Fintech and sustainable investing are two factors being watched closely by some of the 2019 class of InvestmentNews' 40 Under 40.

INTV

Schwab's Jeff Kleintop: Prep for volatility given China trade uncertainties

China could be considered a developed market in five to seven years , according to Jeff Kleintop, chief global investment strategist, Charles Schwab.

Latest news & opinion

TIAA exits the life insurance business

The move is a big deal for RIAs, experts say, since TIAA was one of only a few insurers to offer fee-only life policies.

Advisers step up efforts to help clients manage student loan debt

As some Democrats campaign to wipe the slate clean, financial planners focus on limiting the amount students borrow.

Funding for Reg BI, other SEC advice reform efforts denied in Waters amendment

House likely to approve measure that effectively kills rule package, but it faces uphill battle in Senate

Wall Street lashes out at Sanders' plan to pay off student debt with a securities trading tax

Financial pros argue that a transaction levy will hurt mom-and-pop investors along with investment houses.

GPB paid B-Ds and reps steep commissions to sell troubled private placements

GPB paid commissions of 9.3%, or $167 million altogether, on the firm's private placements.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print