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

Recommended for you

Featured video

INTV

Where in the U.S. are RIAs growing the fastest?

InvestmentNews' deputy editor Robert Hordt talks to senior columnist Jeff Benjamin about his report on how registered investment advisers are faring in different regions of the country.

Latest news & opinion

10 must-know facts about today's 401(k) plans

Here are the latest changes in 401(k) plans across areas such as investments, fees, contributions, investment advice and more.

Questions abound as Ohio National stops commission payments this week

Advisers are grappling with how to proceed, with their clients and their businesses, as the insurer's new annuity trail policy takes effect.

Top 10 RIAs in the South

These are the largest registered investment advisory firms in the Southern U.S., based on AUM.

Top 10 RIAs in the Midwest

These are the largest registered investment advisers in terms of AUM in the Midwestern U.S.

Top 10 RIAs in the Northeast

These are the largest registered investment advice firms in the Northeastern U.S., in terms of assets under management.

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