Mercer Global Advisors, a Denver-based national registered investment advisor overseeing $46 billion in assets, announced Tuesday that it has acquired Empyrion Wealth Management Inc., a California wealth management firm that manages $250 million.
Roseville-based Empyrion was founded in 2002 by Kimberly Foss and works with 90 clients. Foss is author of “Wealthy by Design: A 5-Step Plan for Financial Security.”
“Mercer’s comprehensive ‘family office’ approach to client care with in-house services like estate planning, tax consultation and tax return preparation, etc., adds the depth and breadth of service I was looking for,” Foss said in a statement.
Terms of the transaction were not disclosed. Empyrion was represented by Republic Capital Group.
Mercer is majority owned by Oak Hill Capital and Genstar Capital.
Mercer noted in the statement that Empyrion is the 15th woman-owned firm it has acquired since 2016.
AI-driven job fears are weighing on retirement confidence, especially among Gen Z and Millennials, Thrivent survey finds
It’s the second time in as many years regulators have penalized Centaurus Financial for lack of compliance with Reg BI.
AI Teammate is embedded within Wells Fargo’s Advisor Gateway desktop platform.
Elsewhere, Ameriprise added a $470 million Wells team in New York, while an ex-Morgan Stanley advisor bolsters UBS' Austin, Texas office.
Financial advisors play an essential role in helping small business owners navigate their transition out of the company — and into retirement.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
