Mercer Global Advisors, a Denver-based registered investment advisory managing $38 billion, has acquired Starks Financial Group, an Asheville, North Carolina-based planning and wealth management firm managing approximately $250 million.
The eponymous firm was founded in 1999 by Dawn Starks. She said that the acquisition was part of a succession plan she and partner Jennifer Adams developed.
Starks Financial is a women-owned and operated firm that "not only serves the interests of women, but those of same sex partners, along with others seeking our brand of deep financial planning, Starks said in a press release Wednesday.
"Dawn and Jennifer have built a great business and a strong team," Dave Welling, chief executive officer of Mercer Advisors, said. "As a women founded, owned, and led firm, they will join with the nine other women-led firms who have chosen Mercer Advisors as their new home and add to the ranks of our advisory team which is already over 50% women."
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
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A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
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