Mercer Advisors expands US footprint with Miller Advisors acquisition

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RIA aggregator Mercer Global Advisors has acquired Washington-based wealth management firm Miller Advisors for an undisclosed amount.

The acquired entity brings approximately 200 clients and around $240m assets under management (AuM) to Mercer Advisors.

It offers wealth management services to its high-net-worth (HNW) individuals, families, and their businesses, in addition to providing planning for divorcing couples.

Miller Advisors president and CEO Kathleen Miller said: “Our clients are at the foundation of what we do and who we are as a firm. Finding a partner with a similar mission of putting clients first and offering lifecycle planning using financial planning principles was essential to us.”

Miller Advisors managing partner Nicole Miller added: “With this partnership, we have the opportunity to collaborate with a network of advisors around the country while maintaining our personalised approach with our clients.”

As part of the deal, the entire Miller team will join Mercer Advisors.

Commenting on the deal, Mercer Advisors CEO Dave Welling noted: “This is the ninth women-led firm we have partnered with and they represent the type of talent we seek to add to our team.

“We are excited to partner with the Miller team and look forward to serving their clients with expanded wealth management services for years to come.”

Founded in 1985, Mercer Global Advisors specialises in fee-based investment management, financial planning, and family office services.

The firm also provides retirement benefits and distribution planning, estate and tax planning, insurance solutions, and corporate trustee and trust administration services.

In June this year, Mercer Global Advisors acquired Wisconsin-based A. Farah Investments, which did business as AFI Wealth Strategies.

The acquired wealth manager provides boutique wealth strategy services, managing and planning to HNW individuals, families, and their businesses.

Founded by Andrew Farah, the firm manages $240m in assets on behalf of its approximately 220 clients.

Under the agreement, AFI team will join Mercer which expands its central US reach with this deal.

It followed the firm’s takeover of ET George Investment Management, Hart Capital Management and Virginia-based Pinnacle Wealth Solutions earlier this year.

Founded in 1998 by Craig Hart, Hart Capital provides a suite of wealth management services to HNW clients.

The company manages approximately $440m in assets for its nearly 400 clients and has a satellite office in Coeur d’Alene, Idaho.

This transaction, which concluded on 31 December 2020, adds a team of ten employees to Mercer Advisors.

Last year, it made a number of purchases, including that of Personal Financial Advisors, Summit Wealth Advisors, ClearRock Capital and M.J. Smith and Associates.

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