Denver-based RIA aggregator Mercer Global Advisors announced its second acquisition in as many days Wednesday morning with the addition of Sanford Advisory Services, a $1.1 billion firm based in Portage, Michigan.
The deal, which pushes Mercer’s total assets under management to more than $39 billion, followed the Tuesday announcement of its acquisition of HYA Advisors, a Springfield, Missouri-based firm managing $1.2 billion.
“I loved that we could offload back-office activities to Mercer Advisors, creating excess capacity for us to do what we do best, service existing clients and win new ones,” Sanford partner Scott Williams said in a statement.
Sanford was founded in 2000 and serves approximately 1,100 clients.
Mercer, founded in 1985, is majority-owned by private equity investors Oak Hill Capital and Genstar Capital.
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Employee accounts, crypto trials and job cuts frame a pivotal year for the Swiss lender.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
