Mercer Global Advisors, a Denver-based firm managing $37 billion in assets, has acquired Cordasco Financial Network, a registered investment adviser managing $510 million in Naples, Florida.
Terms of the acquisition were not disclosed.
Cordasco, which was founded in 2011 by Steve Cordasco, has more than 400 clients. Its entire team has joined Mercer.
Plus, a $400 million Commonwealth team departs to launch an independent family-run RIA in the East Bay area.
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The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.
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