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.
Mercer announces fourth RIA acquisition in 8 days
The $25 billion Denver aggregator is buying Rowland Carmichael Advisors, a Scottsdale, Arizona-based multifamily office that serves 240 clients with more than $850 million in assets.
January 13, 2021
On Wednesday, the $25 billion Denver-based aggregator announced its fourth acquisition so far this year of an RIA with at least $800 million in client assets. The deal for Scottsdale, Arizona-based Rowland Carmichael Advisors, which serves 240 clients with more than $850 million in assets, follows three other announcements in the past eight days.
The deals announced previously include: Kays Financial Advisory, an $800 million Atlanta-based firm; Atlanta Financial Associates, an $815 million firm also based in Atlanta; and McGee Wealth Management, an $800 million firm based in Portland, Oregon.
Mercer Global buys second woman-led RIA in a week
McGee Wealth Management, a Portland, Oregon-based firm with 800 clients and $815 million in assets under management, is leveraging the sale for succession planning.
January 11, 2021
Mercer Global Advisors is buying McGee Wealth Management, a Portland, Oregon-based firm serving 800 clients and managing $815 million, in its third acquisition this month of a firm with more than $800 million under management.
McGee Wealth, co-founded by Judith McGee and Linette Dobbins, is the second woman-led RIA Mercer has acquired in less than two weeks.
Mercer also announced last week that it is buying Kays Financial Advisory, another Atlanta-based RIA managing $800 million.
Curated news and analysis for wealth advisers and their clients from WSJ reporters and columnists By WSJ Staff Updated Jan. 7, 2021 6:02 am ET
Mercer Global Advisors, a large nationwide RIA that has grown via dozens of acquisitions, announced another deal: the purchase of Kays Financial Advisory, an Atlanta-based wealth management firm.
Founded in 1985 by Scott Kays, the 17-person firm serves about 700 clients. A Form ADV filed in early December lists Kays’ regulatory assets under management as $662.2 million.
Mercer says the acquisition, which closed on Nov. 30, bolsters its presence in Georgia and the Southeast.
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