Shortly after passing the 100-deal mark, Mercer Advisors is building on its deal streak with a major partnership in the South.
On Tuesday, the firm with $71 billion in client assets revealed its acquisition of Full Sail Capital, an Oklahoma City-based RIA managing approximately $2 billion in assets for more than 600 families.
The deal, which is Mercer Advisors' third-largest transaction to date by assets under management, marks its second transaction in Oklahoma and brings its combined client assets in Texas and Oklahoma to over $7 billion.
The firm landed its biggest-ever RIA partner in December 2022 with Regis Management, a $5 billion RIA based in San Francisco. Last year in March, it acquired MDK Wealth Management, a $2.5 billion firm operating in Seattle.
Founded in 2018 by David Stanley, Scott Cravens, and Zac Reynolds, Full Sail Capital built its client base from the ground up. The firm offers financial planning, investment management, asset integration, estate planning consulting and family office services.
“At Full Sail, we’ve always held ourselves to the highest fiduciary standard. It’s the very first promise we make to clients in our wealth management agreement: we will always put their interests ahead of our own,” Stanley, founder and chief executive of Full Sail, said in a statement on Tuesday.
According to Mercer Advisors, the acquisition is intended to support Full Sail’s continued growth while allowing its team to focus more on existing client relationships. The firm had been seeking a partner that could offer both operational support and access to resources that enable deeper service delivery without compromising its fiduciary principles.
Dave Welling, chief executive of Mercer Advisors, said his team aligned with Full Sail early in discussions due to a shared outlook on firm culture and client service.
“We connected immediately with the Full Sail team,” Welling said, highlighting the firms' "shared commitment to a client-first and team-oriented culture" and mutual "excitement about serving more families in Oklahoma.”
Daniel Gourvitch, president of Mercer Advisors, described the addition of Full Sail as both a strategic and cultural fit, calling it a firm that delivers “family office-level service with a personal touch.”
A parent company of Mercer Global Advisors, a privately held firm with 1,270 employees operating across more than 100 locations, Mercer Advisors is backed by private equity firms Oak Hill Capital, Genstar Capital and Altas Partners.
Mercer Advisors passed a major milestone in its growth strategy last month, landing its 100th and 101st RIA partnerships in quick succession to cement its status as one of the most prolific acquirers in the wealth space.
Five low-cost index ETFs to anchor Trump Accounts as advisors weigh options against 529 and UTMA plans for clients
A bipartisan proposal aimed at aligning advisor compensation rules with modern business structures is headed to the full House.
Vanilla is extending its estate planning tech to Callan Family Office's ultra-high-net-worth business, while WealthFeed's organic growth engine will now be available to roughly 100 advisors at The Mather Group.
“We are helping families take an important first step toward building a financial foundation for the next generation,” said Franklin Templeton CEO Jenny Johnson
Richard Brothers Financial Advisors joins the fee-only RIA, adding its first Maine office and $240 million in client assets
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.
