Mercer Advisors is strengthening its presence in the Northeast as it snaps up a veteran-led independent high-net-worth practice in Connecticut.
The Denver-based national RIA has announced its acquisition of Benchmark Wealth Management, a firm specializing in high-net-worth financial planning located in Old Lyme, Connecticut..
Founded by Richard Stout III and Thomas Britt in 2007, Benchmark has built a reputation for providing comprehensive financial planning services to over 300 high-net-worth clients, managing approximately $412 million in AUM.
Stout emphasized the firm’s commitment to client relationships in a statement regarding the merger.
“We have spent nearly two decades building a client experience that is focused on building depth and trust in our client relationships,” said Stout, whose 24-year BrokerCheck record began at UBS and includes stints with RBC Dain Rauscher Inc. and Wells Fargo Advisors. “Financial planning, which is at the core of how we operate, is foundational to how we deliver on the white-glove experience that we promise.”
David Barton, vice chairman of Mercer Advisors who also led the acquisition, hailed Stout and Britt as "highly experienced planners with sophistication in managing larger clients.
"In addition to a like-minded service model, Mercer Advisors gains additional expertise in serving high-net-worth clients and more coverage in an important market for us,” Barton stated.
Mercer Advisors operates more than 90 locations across the US and currently manages $63 billion in client assets.
“With both firms anchoring on financial planning and client experience, it was easy to see that the Benchmark team would fit right in and integrate smoothly," said Mercer Advisors CEO Dave Welling,. “We look forward to working together to help deliver meaningful results for our shared clients."
Mercer deepened its presence in the Pacific Northwest in March with its addition of MDK Wealth Management, a $2.5 billion mega-practice in Seattle.
In June, the leading national RIA unveiled a proprietary platform to help its high-net-worth advisors bring private investment opportunities to their qualified retail clients.
Concerns about outliving savings and healthcare costs are reshaping how "Peak 65" Americans and advisors approach income planning.
Some investors recently have seen million dollar plus decisions by FINRA arbitration panels involving complex products decisions go their way.
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.
Modern Wealth's latest deal for a California-based fee-only RIA marks its fourth acquisition of 2025.
Sen. Warren has warned of private market investment risks due to opacity, illiquidity, and past regulatory issues.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
