The latest merger and acquisition transactions in the North America wealth management industry.

Mercer Global Advisors has bought Precipio Wealth Management, a business based in McLean, Virginia, managing about $250 million of client money. The deal adds to a run of acquisitions that Mercer has made in recent months. Separately, the firm has acquired Mirsky Financial Management, a business in Rochester, New York. 

Precipio, which serves clients in 19 states, was founded as a fee-only RIA in 2009 by Edgar Parrish, managing principal and Katherine Parrish, also a managing principal.

Precipio’s entire team will join Mercer Advisors. The financial terms of the transaction were not disclosed.

Edgar Parrish has 50 years of experience in investment management consulting, and Katherine Parrish has a 30-year track record in financial services and public economics. 

MFMC
Mercer's deal with MFMC involves it buying a firm that serves clients with assets under management of about $320 million. MFMC was founded in 1999 by David B Mirsky, President, and later joined by Bernard L Salamone, executive vice president, MFMC’s team will join Mercer Advisors.

Denver-based Mercer Global Advisors, which is majority-owned by Oak Hill Capital and Genstar Capital, is one or the largest such RIAs in the US and oversees a total of $36.5 billion. Its buying activity remains robust. In early November, Mercer said that it was buying Atlanta-based wealth manager ACG Wealth, adding $1.3 billion in assets. In September, Mercer purchased Miller Advisors, a Kirkland, Washington-based firm serving about 200 clients and collectively holding more than $240 million in assets.