Mercer Global Advisors, one of the nation's largest and most profitable registered investment advisors, has announced two acquisitions, expanding its footprint in the Greater Denver and Minneapolis area.
Mercer's acquisition of Chapel & Collins, a Fort Collins, Colo. firm with approximately $675 million in client assets, brings its Colorado AUM to nearly $5 billion across seven offices and over 150 employees. The team of seven serves more than 500 individuals and families.
Dennis Collins founded the RIA in 2004, focusing on the management, preservation and transfer of multigenerational wealth. He has been associated with the independent contractor division of Raymond James since 1996.
In a statement, Mercer said Collins was drawn to Mercer for resources, specialized services and operational support. It will also allow his team to provide a more personalized customer experience.
“Growing our footprint in Greater Denver and Fort Collins helps us deepen our roots in one of our core markets,” Mercer CEO Dave Welling said in a statement. “By expanding our integrated wealth management experience to more families in the Denver area, we are able to help strengthen and simplify their financial lives.”
Mercer has also acquired Waypoint Capital Advisors, a Minneapolis RIA with nearly $1 billion in client assets. The firm was founded in 2015 and focuses on serving very high net worth individuals and families. The team plans to leverage Mercer's resources and specialists in UHNW and family office space.
“Mercer Advisors will be a long-term home for our 12 professionals, who are excited to access the wealth management services, resources and full capabilities of a high-caliber RIA,” said Jon Kennedy, CEO and partner manager at Waypoint. in a statement.
“The like-minded approach to family office services was immediately apparent and will add depth to our existing offering,” Martine Lellis, director, M&A partner development at Mercer Advisors, said in a statement. “Our approach to serving families of significant means combines our rigor in financial planning design and implementation, in addition to expanding our capabilities in investment management, tax efficiency and philanthropy.”
Mercer has completed six deals this year, bringing its AUM to $66 billion at the end of September.
In October, Dave Barton, vice president of M&A at Mercer Advisors, retired from his role to focus his energy on an ongoing health issue, the company said. Lellis, the firm's former head of talent until he was promoted to M&A partner development principle in Mayhas taken the role of Barton.
In February, the RIA hired five new leaders for its M&A partner development and integration teams.