Mercer Advisors Continues Run Of Purchases

Editorial Staff

4 December 2024

Mercer Advisors, parent of Mercer Global Advisors, has acquired all-female business Frango Financial, which serves working professionals primarily in Washington, DC, Virginia, Maryland, and South Carolina.

The move adds to several acquisitions that Mercer has made this year.

In this latest deal, Mercer has bought a business with about $110 million in client assets. Frango, founded in 2011, consists of the two-person team of president and founder Frances Goldman, and advisor Pamela Postma Khinda.

“With women increasingly taking the lead with managing their own and their families’ finances, we see a tremendous opportunity for Frango Financial and Mercer Advisors to provide financial guidance that truly resonates with their experiences and goals,” Dave Welling, CEO of Mercer Advisors, said.

Mercer Advisors has been one of the more vigorous buyers of wealth management businesses. In October, it bought Kiely Wealth Advisory Group of North Carolina and in March, it acquired MDK Private Wealth Management. It also acquired Minneapolis-based Waypoint Capital Advisors, an investment advisory and financial planning firm, as well as Chapel & Collins, an RIA based in Fort Collins, Colorado.

Mercer Advisors is majority owned by Oak Hill Capital, Genstar Capital, and Altas Partners; it is headquartered in Denver, Colorado and privately held.

The M&A field in wealth management has been busy in the US this year. FWR correspondent, Charles Paikert, recently listened to the details of such deals at the annual IMPACT conference, held by Charles Schwab, in San Francisco.