Mercer Advisors acquires $240 million Confluence Financial Advisors

Mercer Advisors acquires $240 million Confluence Financial Advisors
Boulder, Colo.-based firm raises Mercer's AUM to more than $15 billion.
MAR 07, 2019

Mercer Global Advisors has acquired Confluence Financial Advisors, a Boulder, Colo.-based registered investment adviser managing approximately $240 million in assets. Confluence founding partners David Gardner and Judy McNary, and their five team members, will join Mercer Advisors' existing Boulder office. The acquisition increases Denver-based Mercer's AUM to more than $15 billion. The firm has more than 350 employees at locations across the country. Confluence was founded in 2015 by Founding Partners David Gardner, CFP®, EA, and Judy McNary, CFP®, MBA focusing on delivering comprehensive and high quality wealth management services to their high net worth clientele. Mr. Gardner and Ms. McNary, together with their five team members, will be joining Mercer Advisors. Dave Welling, Chief Executive Officer of Mercer Advisors, said, "Confluence is an established and highly respected firm, and Dave's and Judy's long-standing commitment to delivering comprehensive financial planning services to their clients mirrored ours. Confluence's team, led by Dave and Judy, are fantastic additions to Mercer Advisors' staff and deepen our Colorado bench." (More: Next Financial latest broker-dealer to be purchased by Atria) Commenting on the transaction, founding Partner Dave Gardner stated, "When we were evaluating potential partners, we knew it had to check two key boxes: that it would be a good move for our clients, and a great place to practice fiduciary-driven financial planning. With Mercer Advisors' leadership as a pioneer in the delivery of fiduciary family office services, we found the right partner for our clients and team." Founding Partner Judy McNary added: "I have long admired Mercer's client-first approach. Mercer Advisors has built a national business focused on helping clients live their best lives by providing them with a panoply of professional financial services under one roof, what Dave Barton, Mercer Advisors' Vice Chairman, refers to as their Family Office approach with in-house estate planning attorneys, tax return preparation, and corporate trustee advisory services available to all their clients." Dave Barton, who leads the company's M&A activity, said, "Confluence and Mercer Advisors are a perfect cultural fit, we share the same values, we've both anchored our businesses on delivering robust financial planning to our clients, and we believe the only interests to consider are the best interests of the client. This is the bedrock for a successful combination. In addition, Mercer Advisors' platform allows Dave and Judy to offload back-office responsibilities that were soaking up their valuable leadership and advisor capacity, thus unlocking their full potential while benefitting from our cutting-edge technology solutions." ​

Latest News

RIA moves: The Mather Group, Brand Asset Management announce deals
RIA moves: The Mather Group, Brand Asset Management announce deals

Consolidation continues in US wealth management industry.

US broker-dealer fintech aims for global footprint as it acquires international firm
US broker-dealer fintech aims for global footprint as it acquires international firm

Tech company democratizes access to US trading infrastructure.

Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel
Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel

RBC Wealth Management's latest move in New York adds an elite eight-member team to its recently opened Westchester office.

Stifel star broker, Chuck Roberts, leaves firm under cloud of investor complaints
Stifel star broker, Chuck Roberts, leaves firm under cloud of investor complaints

Stifel – so far - is on the hook for more than $166 million in damages, legal fees and settlements in investor complaints involving Roberts, a 35-year industry veteran.

iCapital secures $820M in latest funding, hits $7.5B
iCapital secures $820M in latest funding, hits $7.5B

The giant alt investments platform's latest financing led by T. Rowe Price and SurgoCap Partners, along with State Street, UBS, and BNY, will fuel additional growth on multiple fronts.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.