Just days after announcing its first acquisition since its latest recapitalization, Mercer Global Advisors has expanded again.
Mallard Financial Partners Inc., a comprehensive wealth management firm located in Newark, Delaware, serves around 200 clients with assets under management of approximately $180 million. The deal is the second Mercer announced this week following its acquisition of Georgia’s Day & Ennis.
Mallard was founded in 1996 by Paul Baumbach, who says that while he and the firm remain committed to the personalized service and values of its 27 years in business, he recognizes the benefit to the firm and its clients of the resources and potential for growth of a larger entity.
The deal came about after Baumbach, who currently co-manages the firm along with CEO Joe Daigle, was introduced to David Barton, Mercer’s vice chairman, who heads up the firm’s M&A team.
“We found a wonderful cultural fit between our two organizations, and loved the fact that they offer, in-house estate planning, tax planning and return preparation, in addition to custom financial planning and investment management services,” Baumbach said. “This enhanced service offering is a true value-add to our clients, a key criterion for us.”
For Mercer, the addition of Mallard expands its footprint in the Northeast, and Barton says that adding the team in Newark is a win-win transaction.
“Paul and Joe have built a high-service boutique wealth management firm dedicated to putting their clients’ interest first,” he said. “We share that vision and business values, and together we host a panoply of professional solutions to their growing clientele in the tri-state area and beyond.”
He added that the Mallard leadership are assured that their team members will have expanded career development opportunities at Mercer Advisors.
Mercer Global Advisors has over 890 employees and operates nationally through 80-plus locations across the country, managing $48 billion in client assets.
With a fifth of RIA firms using AI to create marketing content, one leading voice argues a clear identity and focusing on clients will be crucial to success.
LPL Financial is a bellwether for the broader financial advice marketplace.
The San Francisco-based startup's Series A funding, with support from Schwab and Edward Jones Ventures, will reinforce its role in the coming $124 trillion wealth transfer.
The quartet of deals across New York, Florida, Ohio, and New Mexico reinforces the fast-growing integrator's leading position in the independent space.
UBS and Wells Fargo have made their own additions in the Northeast, including a Massachusetts duo defecting from Commonwealth.
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.
