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.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
