Mercer Global Advisors, a registered investment adviser overseeing $37 billion in assets, has acquired Vintage Financial Services, an Ann Arbor, Michigan-based RIA that manages $850 million for more than 500 clients.
The Vintage team, including founder Frank Moore and partner Jack McCloskey, will be joining Mercer Advisors.
Moore, who founded Vintage in 1985, has served as chairman of the National Association of Personal Financial Advisors and has worked with the leadership of the Financial Planning Association and the Certified Financial Planner Board to help promote and shape the Department of Labor’s fiduciary rule.
Mercer noted that Vintage is the third firm it has acquired in Michigan since 2016.
Terms of the acquisition were not disclosed.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
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