Mercer Global Advisors announced that it’s acquired The Asset Advisory Group, a wealth management firm in Cincinnati that has $370 million of assets under management.
Mercer, a registered investment adviser that’s majority owned by private equity investors Oak Hill Capital and Genstar Capital, has more than $38 billion under management.
The Asset Advisory Group, which is known as TAAG, was founded in 1988 by Jeannette Jones. She and her partner, the firm’s president, David (Chip) Workman, serve about 160 clients.
“While Chip and I have no intention of retiring anytime soon, the need to have a succession plan was clear and present, and after meeting with several firms we realized implementing a succession plan now would allow Chip and me to focus on what we love doing, serving our clients, as well as offering new services to our clients through our new partnership with Mercer Advisors,” Jones said in a statement.
“We are thrilled to be expanding our presence in Ohio with a team that has deep connections to the community,” Dave Welling, chief executive officer of Mercer Advisors, said in a statement.
On Tuesday, Mercer announced a deal for Goldstein Munger & Associates, a $1 billion registered investment adviser based in San Ramon, California.
Donated SpaceX stock generally can’t be refused or sold for years, leaving advisors to explain concentration risk to families
Aging populations and underfunded systems are forcing wealth managers to rethink how they prepare clients for retirement.
A new Morgan Stanley survey signals a fundamental shift in how employees view retirement benefits - and raises the stakes for plan advisors.
Proposition 40 wealth tax could raise $30 billion, not $100 billion, as departures erode the base and voters remain split.
Jump is piping FMG marketing content into post-meeting workflows as Zocks opens its platform to more than 32,000 LPL financial advisors.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
