The national RIA continues its acquiring strategy adding a wealth business in affluent Atlanta to the platform.

Mercer Global Advisors has anounced that it is buying Atlanta-based wealth manager ACG Wealth adding $1.3 billion in assets to the national RIA.

ACG, which was founded in 2002 by Jeffrey Shaver and Joseph Young, has grown to a business with 17 professionals serving high net worth individuals, families, and their businesses across several Atlanta locations.
 
“We were looking to build out our middle and back office to support our rapid growth. Before starting that re-building effort, we were introduced to Dave Barton, vice chairman and head of M&A at Mercer,” Shaver said about the deal.

As with many M&A acquisitions, Mercer's draw lies in providing a readymade platform and administrative support for smaller RIAs needing to scale up fast and efficiently.  “As Dave Barton stated, ‘Why build it when you can join it?’ and we agreed,” Shaver added.

Cambridge International Partners advised ACG Wealth on the deal.
 
Mercer has grown into one of the largest privately owned RIAs in the US, managing around 55 offices and $33 billion for clients from its Denver base.
 
As reported here, in September Mercer purchased Miller Advisors, a Kirkland, Washington-based firm serving about 200 clients and collectively holding more than $240 million in assets.

DeVoe & Company, a business tracking M&A activity, reported in September that the volume of transactions for 2021 had already exceeded those completed for the whole of last year.

“The amount of M&A activity and interest in transactions among advisors is truly unprecedented,” David DeVoe, founder and CEO said. “High valuations, a newfound focus on solving succession and achieving scale, and concerns about looming tax increases are driving an acceleration of external sales.”

This news service's editor recently discussed some of the wider industry M&A trends in a podcast with Dentons law firm.