Mercer Global Advisors, a Denver-based wealth management firm managing $37 billion, has acquired Wrenn Financial Strategies, a Raleigh, North Carolina-based registered investment adviser managing $238 million.
Maxie Edward Wrenn, Jr. and Janice Wrenn, who founded the firm in 1988, have joined Mercer with their entire team.
The founders said that business succession was a major consideration in their decision to sell the firm.
This is the third deal that Mercer has announced this week. On Wednesday, Mercer acquired HawsGoodwin Investment Management, a Franklin, Tennessee-based registered investment adviser managing $680 million. On Tuesday, Mercer acquired Cordasco Financial Network, a registered investment adviser managing $510 million in Naples, Florida.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
