$70B Mercer Advisors taps Ted Motheral to co-lead M&A strategy

Mercer Advisors, one of the largest mega-RIAs in the industry, is ramping up its focus on attracting RIA partners with a new appointment.

The firm announced Tuesday that it has appointed Ted Motheral as principal, M&A partner development, as the firm continues to expand its mergers and acquisitions strategy.

Motheral, an experienced M&A attorney, will work alongside Martine Lellis, who took on the same role in May last year.

The Denver-based RIA, which manages roughly $70 billion in client assets, has focused on expanding its partner network by integrating firms that align with its client-centric approach. The addition of Motheral is expected to strengthen the firm’s ability to engage with RIA owners considering a transition.

Consolidation in the RIA industry has boomed in recent years, with Devoe & Co. reporting no fewer than 272 transactions in 2024 alone. That included an October surprise in dealmaking that contributed to a fourth-quarter pop in transaction volume.

In recent years, Mercer Advisors has emerged as one of the most prominent players in the RIA space. According to Echelon's 2024 RIA M&A deal report, it was the fifth most active player in the wealth management M&A landscape last year. Mercer Advisors has also been among the top five buyers on Echelon's leaderboard by deal volume since 2021.

In October, the firm acquired Kiely Wealth Advisory Group, a North Carolina-based RIA with $523 million in assets, and Kades & Cheifetz, a Pennsylvania firm managing $440 million.

In November, it announced a major double-deal with the addition of Chapel & Collins, a Fort Collins, Colorado-based firm overseeing $675 million and Waypoint Capital Advisors in Minneapolis, a firm managing close to $1 billion and serving ultrahigh-net-worth families.

“Ted has built a reputation as a skilled M&A practitioner with an impressive track record of guiding wealth management firms through complex transactions,” said Dave Welling, CEO of Mercer Advisors. “With Martine and Ted leading our partner development efforts, we have increased capacity to find more partners who want to build client-first solutions together.”

Before joining Mercer Advisors, Motheral was a corporate and M&A partner at Potomac Law Group, where he specialized in M&A transactions, private debt, and equity financing. With over two decades of experience, he has advised more than 100 financial advisory and wealth management firms on strategic growth initiatives.

“Mercer Advisors has built a reputation as a premier destination for RIA owners seeking a partner that prioritizes their clients, their team, and their long-term success,” Motheral said. “I look forward to working alongside Martine and the entire M&A team to help prospective partners navigate their transition with confidence.”

Motheral’s hiring marks the latest in a series of leadership additions at Mercer Advisors. In February, the firm named Alisa Maute as head of client development, following the appointment of Elizabeth Hioe as chief people officer in September. The firm also appointed Gün Keresteci as chief financial officer early last year.

“Welcoming an experienced RIA M&A leader like Ted will enable us to continue to grow our partnership of like-minded firm leaders who want to elevate their impact working as a unified team,” said Lellis.

Mercer Advisors, founded in 1985, operates in more than 110 locations across the US.