Mercer buys $740 million Epstein & White

Mercer buys $740 million Epstein & White
Seller of the San Diego-based firm describes Mercer leaders as 'Batman and Batman.'
MAR 10, 2021

Private equity-backed serial acquirer Mercer Global Advisors has acquired Epstein & White Financial, a San Diego-based advisory firm serving 1,300 clients with approximately $740 million.

Brad White, founder and chief executive of the registered investment adviser, said the sale was driven by the same thing fueling much of the consolidation across the wealth management industry, the need for scale.

“We know how to win new clients, but we also realized that at the pace we are growing we needed to add significant scale and corporate architecture,” he said in a release. “We needed to partner with a fully institutionalized RIA that had built out fully scaled middle and back office functionality that could handle our explosive growth.”

Epstein & White has achieved organic growth averaging approximately 75% per annum since 2015, according to the release.

Epstein & White had “many suitors,” but after talking with “the Daves,” Mercer Chief Executive Dave Welling and its head of M&A, Dave Barton, “I knew we found the right home,” White said.

“Working with the Daves was like working with Batman and Batman, a formidable team to be sure,” he added.

Barton described White as a “creative marketing whiz kid who has built something truly unique.”

“His marketing engine reliably produces new clients in volume through his proven techniques,” Barton said in the release. “We believe we can take what Brad is doing in Southern California and syndicate his programs nationwide adding more firepower to our already significant marketing and sales platform.”

Established in 1985, Mercer is majority-owned by private equity firms Oak Hill Capital and Genstar Capital. Mercer has 525 employees and more than $28 billion under management.

Build a brand that reflects purpose and personality

Latest News

Empower defends private market access in 401(k)s in response to Warren scrutiny
Empower defends private market access in 401(k)s in response to Warren scrutiny

Sen. Warren has warned of private market investment risks due to opacity, illiquidity, and past regulatory issues.

AI is gaining traction with buy-side equity traders and may be an unstoppable force
AI is gaining traction with buy-side equity traders and may be an unstoppable force

Use of the technology is growing and asset managers see transformative benefits.

One fifth of Americans are expecting an inheritance but are too many relying on it?
One fifth of Americans are expecting an inheritance but are too many relying on it?

Research reveals expectation could be replaced by disappointment.

Farther debuts AI investment proposal tool for advisors to win clients
Farther debuts AI investment proposal tool for advisors to win clients

"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews in light of relaxed AI regulations from the SEC.

Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler
Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler

Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.

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.