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Mercer Advisors dumps ETrade's custody for Raymond James

Mercer Advisors dumps ETrade custody for Raymond James
An aggregator with close to 50 deals since 2016, Mercer already had custody agreements with Schwab, TD Ameritrade, National Advisors Trust and Fidelity.
May 27, 2021
Mercer Advisors, one of the most prominent recent buyers of registered investment advisers now with $19.9 billion in assets under management, has altered its lineup of RIA custodians, according to its March Form ADV filed with the Securities and Exchange Commission.
According to the filing, Mercer Advisors now has a custody business relationship with Raymond James Financial Services Inc. and no longer works with the ETrade Advisor Network.
An aggregator with close to 50 deals since 2016, Mercer and its financial advisers already had access to hold client assets in custody with Charles Schwab & Co. Inc., TD Ameritrade Institutional, National Advisors Trust and Fidelity, according to the filing. ....

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