Mercer Global Advisors, one of the nation’s largest and most acquisitive registered investment advisors, has announced two acquisitions, expanding its footprints in the Greater Denver area and Minneapolis.
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 seven-person team serves more than 500 individuals and families.
Dennis Collins founded the RIA in 2004, focusing on the management, preservation and transfer of multi-generational wealth. He’s been affiliated with Raymond James’ independent contractor division since 1996.
In a statement, Mercer said Collins was attracted to Mercer for its resources, specialized services and operational support. It will also allow his team to provide a more personalized client experience.
“Growing our footprint in Greater Denver and Fort Collins helps us deepen our roots in one of our key markets,” Mercer CEO Dave Welling said in a statement. “By extending our integrated wealth management experience to more families in the Denver area, we’re able to help amplify 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 ultra-high-net-worth individuals and families. The team plans to tap into Mercer’s resources and specialists in the UHNW and family office space.
“Mercer Advisors will be a long-term home for our 12 professionals, who are excited to access the full-service wealth management services, resources, and capabilities of a high caliber RIA,” Jon Kennedy, CEO and managing partner at Waypoint, said in a statement.
“The like-minded approach to family office services was immediately apparent and will add depth to our existing offering,” Martine Lellis, principal, M&A partner development at Mercer Advisors, said in a statement. “Our approach to serving families of significant means combines our rigor in the design and execution of financial plans, in addition to extending our capabilities in investment management, tax efficiency and philanthropy.”
Mercer has completed six deals this year, bringing its AUM to $66 billion as of the end of September.
In October, Dave Barton, vice chairman of M&A at Mercer Advisors, retired from his role to concentrate his energy on an ongoing health issue, the company said. Lellis, the firm’s former chief talent officer until she was promoted to principal of M&A partner development in May, has taken on Barton’s role.
In February, the RIA hired five new executives for the M&A partner development and integration teams.
