M and A

Mercer Advisors Continues Acquisition Drive

Editorial Staff, August 3, 2022

articleimage

The acquisition of Mallard Advisors expands Mercer Advisors’ Northeast presence

Mercer Global Advisors, the US wealth management group, has acquired Mallard Advisors, a wealth management firm located in Delaware, which was founded by William D Starnes. The acquisition continues a run of such M&A deals by the group over recent years. 

Starnes and his team will join Mercer Advisors, the firm said in a statement this week.

Mallard is a financial planning and wealth management practice, with assets under management of about $165 million. It is experienced in working with data-driven clients, notably scientists, engineers, and financial professionals, the firm said. When it comes to decisions involved in transitioning into retirement, these professionals want to see all the details and calculations involved in the analysis in order to feel secure in their decisions, the firm explained.

Welcoming the move, Starnes said: “As the sole founder and owner of the firm it is incumbent on me to make sure my clients and team are taken care of if something were to happen to me. To that end, I partnered with Mercer Advisors through their Mutual Assistance Pact (“MAP”) program wherein they would look after my clients and staff if something unforeseen should happen to me.” 

“I worked with Mercer Advisors vice chairman David Barton to put that MAP plan in place several years ago and have been very happy with the arrangement. However, I realized it was time for me to work on my own transition plan and once again reached out to Dave Barton and Mercer Advisors whom I respect and trust,” he explained. 

“Together we worked on, and successfully completed, my succession plan and I am thrilled to join a firm like Mercer Advisors alongside my fantastic team,” he stressed.

Barton, who led the acquisition of Mallard on behalf of Mercer Advisors added: “In Mallard, we found a perfect fit and we could not be more excited to partner with Starnes and his team to expand our Delaware presence.”

The business has made a number of acquisitions. In early June, Mercer Global Advisors, acquired wealth management firm Bivin and Associates. It has also acquired Fure Financial Corporation and Berkson Asset Management.  For example, in April it bought Convergent Wealth Management, a $130 million AuM business based in Chesterfield, Missouri. In January it acquired Wrenn Financial Strategies, a firm located in Raleigh, North Carolina. Wrenn serves more than 150 clients with assets under management of about $238 million.

Established in 1985 and based in Denver, Mercer Global Advisors is a total wealth management firm that provides comprehensive, fee-based investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, insurance solutions, and corporate trustee and trust administration services. Mercer Advisors is a parent company of Mercer Global Advisors, majority owned by both Oak Hill Capital and Genstar Capital, with over $37 billion in client assets.

Register for FamilyWealthReport today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes