Mercer Global buys $238 million RIA

Mercer Global Advisors, a Denver-based wealth management firm managing $37 billion, has acquired Wrenn Financial Strategies, a Raleigh, North Carolina-based registered investment adviser managing $238 million.

Maxie Edward Wrenn, Jr. and Janice Wrenn, who founded the firm in 1988, have joined Mercer with their entire team.

The founders said that business succession was a major consideration in their decision to sell the firm.

This is the third deal that Mercer has announced this week. On Wednesday, Mercer acquired HawsGoodwin Investment Management, a Franklin, Tennessee-based registered investment adviser managing $680 million. On Tuesday, Mercer acquired Cordasco Financial Network, a registered investment adviser managing $510 million in Naples, Florida.

Related Topics: mercer global advisors, Mergers and Acquisitions, wren financial strategies