Mercer Global buys second woman-led RIA in a week

McGee Wealth Management, a Portland, Oregon-based firm with 800 clients and $815 million in assets under management, is leveraging the sale for succession planning.

Mercer Global Advisors is buying McGee Wealth Management, a Portland, Oregon-based firm serving 800 clients and managing $815 million, in its third acquisition this month of a firm with more than $800 million under management.

McGee Wealth, co-founded by Judith McGee and Linette Dobbins, is the second woman-led RIA Mercer has acquired in less than two weeks.

Last week the $24 billion Denver-based aggregator announced the acquisition of Atlanta Financial Associates, an $815 million RIA co-founded by Julianne Andrews and Cathy Miller.

Mercer also announced last week that it is buying Kays Financial Advisory, another Atlanta-based RIA managing $800 million.

In a prepared statement, McGee described the sale as a potential succession plan.

“We serve our clients at the highest level and act as a generational advisor. Thus, in looking for a partner to discuss possible succession planning, finding one that shared our mission, vision and values was most important,” said McGee, who was an InvestmentNews 2019 Women to Watch honoree.

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Dobbins added that she has worked closely over the past several months with David Barton, Mercer’s head of mergers and acquisitions.

“I knew we had found the right partner,” she said. “We couldn’t be more excited about joining the Mercer Advisors’ Team.”

Barton described the addition of McGee as a “win-win.”

“McGee Wealth Management’s reputation is beyond reproach and Judith is a recognized leader in a myriad of women’s initiatives across the United States,” he said.