Mercer plants flag in Georgia with second deal this week
It is acquiring woman-led Atlanta Financial Associates, which has $815 million under management
Mercer Global Advisors announced its second acquisition of the week, signaling a fresh appetite for big deals in 2021.
The $24 billion Denver-based consolidator said Thursday that it is acquiring Atlanta Financial Associates, which serves 570 clients with approximately $815 million under management.
The announcement comes two days after Mercer’s acquisition of Atlanta-based Kays Financial Advisory, which manages $800 million in client assets.
AFA is a woman-led registered investment adviser that was founded by Julianne Andrews and Cathy Miller in 1992.
“When it came time for us to discuss our own succession plan and business continuity strategy, we wanted to make sure our clients continued to receive the highest quality of care,” Andrews said. “To that end, we looked for a partner that shared our client-first mindset and could deliver on the promise of the highest caliber financial stewardship.”
Dave Welling, chief executive at Mercer, said in a statement that “AFA is a strong and growing RIA who shares our dedication to providing an integrated and expansive set of services to clients to help them achieve financial health and peace of mind.”
“AFA will be joining forces with our local resources in Atlanta expanding our already strong presence in Georgia and the Southeast region,” Welling said.
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