Mercer announces two deals in as many days

Mercer announces two deals in as many days
RIA aggregator acquired $495M Paragon Wealth Strategies and $95M Brighton Financial Planning.
DEC 06, 2023

Mercer Global Advisors, a Denver-based aggregator of registered investment advisors, announced Tuesday that it had acquired Paragon Wealth Management of Jacksonville, Florida, and followed that Wednesday with the news that it had purchased Brighton Financial Planning, which operates in New Jersey and South Carolina.

Paragon, which was founded in 2008 by Jonathan Castle and Michelle Ash, oversees $495 million in assets for more than 400 clients. The firm services clients as a team, rather than as individual advisors, in order to better understand and communicate with clients. The firm’s shareholders include Scott Snider and Ian Aquilar.

“We were looking to join a national firm that added not only scale and additional support for our team, but also added new services that we could share with our clients,” Ash said in a statement. “In this regard, Mercer Advisors was a perfect fit for us.”

Brighton, a fee-only RIA, was founded more than 25 years ago. It's led by John Middleton and manages $95 million in assets for clients.

“The fact that Mercer Advisors can support me and my team with additional resources, take over middle and back-office responsibilities, and provide my clients with estate planning advice, documentation and administration, in addition to tax return services, made them the perfect partner for us,” Middleton said in a statement. “They presented a one-stop shop solution for all my clients’ financial needs.”

Mercer Global Advisors Inc. has 80 locations across the U.S. and manages more than $50 billion in client assets.

Here's why investors are better off working with advisors when it comes to charitable giving

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.