Mercer Advisors acquires Blue Moon Wealth Advisory

Mercer Advisors, a Santa Barbara, Calif.-based RIA managing about $11 billion in assets, has acquired Blue Moon Wealth Advisory, a Bellevue, Wash., financial planning and investment management firm managing assets of $90 million. Blue Moon was founded in 2014. Mercer, which has more than 200 employees and operates through 24 branch offices across the country, will consolidate its existing Bellevue office with Blue Moon's operations. "Too often, smaller RIAs get weighed down managing non-core yet essential elements of the business: operations, systems, IT, investments, compliance, reporting, etc.," said David Barton, vice chairman of Mercer, explaining why smaller firms agree to be acquired by his firm. "While important to the business, these back-office tasks create distractions that often prevent planners from doing what they do best — growing their client base and providing valuable advice to existing clients."