Mercer Advisors Acquires AFI Wealth Strategies Green Bay–based advisor Andrew Farrah said joining Mercer was a better way to grow his business than rebuilding it himself.
Mercer Global Advisors, an RIA consolidator with $31 billion in client assets, acquired advisor Andrew Farrah’s $240 million AUM firm, AFI Wealth Strategies.
The Green Bay, Wis.–based firm, provides wealth and financial planning to high-net-worth individuals, families and their businesses, according to a recent news release.
“I built a successful and growing practice but had reached the limits of my capacity. To continue to add clients and grow I had to reinvent my business,” said Farrah.
The financial terms of the deal were not disclosed.
In all, 15 MWM team members will be joining the Mercer Advisors’ team.
Elsewhere, Mercer Advisors has bought acquisition of Rowland Carmichael Advisors, a wealth management firm located in Scottsdale, Arizona.
RCA serves approximately 240 clients and nine RCA team members will be joining the Mercer Advisors’ team.
The financial terms of the deal were not disclosed.
People moves
Round Table Wealth Management
The global wealth and investment management firm has named Marianne Rodriguez as director and wealth adviser based in its Boca Raton, Florida office.
Prior to joining RTWM, she worked as a branch manager with a national brokerage firm.
Below are more deals that occurred this week:
Focus Financial Acquires St. Louis–Based RIA
Focus Financial Partners, a publicly traded acquirer of RIAs, said it has acquired Hill Investment Group, a St. Louis–based firm. Terms of the deal, expected to close later this quarter, were not revealed. Hill Investment Group manages close to $700 million with 12 employees, focused mostly on high-net-worth families.
Morgan Stanley Team Departs to Form All Source Investment Management
RZ Wealth Joined Diversified Lifelong Advisors
The combining of Wayne, Penn.–based RZ Wealth and Diversified Lifelong Advisors in Wilmington, Del., has created an RIA with $900 million in assets under management. RZ’s founder and president, Irvin W. Rosenzweig, will join Diversified’s executive and investment management teams.
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DENVER, Jan. 13, 2021 /PRNewswire/ Mercer Global Advisors Inc. ( Mercer Advisors ), a national Registered Investment Adviser ( RIA ), today announced the acquisition of Rowland Carmichael Advisors, Inc. ( RCA ), a respected wealth management firm located in Scottsdale, Arizona. RCA serves approximately 240 clients with assets under management / advisement (collectively AUM ) with over $850 million. Tim Rowland ( Tim ), CFP®, MBA, and David Carmichael ( David ), founded RCA in 1986 delivering comprehensive wealth management services to its high net worth (HNW) clients, including a robust retirement plan service business and attendant corporate clientele. RCA has four shareholders that include Tim and David, and a strong next generation leadership team in Jaron Carmichael, CPA, CFP®, Masters in Tax, and Corey Bird, CFP®, MBA in Finance, and Masters in Psychology. In all, nine (9) RCA team members will be joining the Mercer Advisors team.
Mercer Acquires $850M Rowland Carmichael Advisors Rowland Carmichael Advisors appeal is a retirement plan business that Mercer will add to its $2 billion ERISA services.
Mercer Advisors acquired a Scottsdale, Ariz., firm advising more than $850 million in investor and retirement plan assets, the company announced Wednesday. Mercer closed on the Rowland Carmichael Advisors transaction on Dec. 31, 2020.
Mercer will combine the RCA family with its existing Scottsdale office and help grow the firm’s presence in the Southwest, said Mercer CEO David Welling in a company statement. Terms of the deal were not released.
Founded in 1986 by Tim Rowland and David Carmichael, RCA is a fee-based multi-family office that advises approximately 240 high-net-worth clients, qualified retirement plans and corporations.