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Mercer Advisors Scoops Up One More $800M+ RIA

By Alex Padalka January 13, 2021

Mercer Global Advisors says it has acquired another firm with more than $800 million in client assets, this time in Oregon.

Portland-based McGee Wealth Management, founded by Judith McGee, oversees around $815 million in client assets for around 800 clients, Mercer Advisors says.

MWM’s shareholders include McGee, her daughter D. Linette Dobbins, Jennifer Currin Gutridge and Sarah Elise Berry, Mercer Advisors says, adding that in all, 15 MWM team members are joining Mercer Advisors.

The MWM team was looking for a partner to address succession planning as well as to scale and leverage their practice, David Barton, vice chairman and head of mergers and acquisitions at Mercer Advisors, says in a statement.

The companies didn’t disclose the financial terms of the deal, which closed on Dec. 31, 2020.

Last week, Mercer Advisors issued two separate announcements about its acquisition of the $800 million Kays Financial Advisory Corp., which closed on November 30, and of the $815 million Atlanta Financial Associates, which closed on December 31.

Denver-based Mercer Advisors, founded in 1985 and now majority owned by private equity shops Oak Hill Capital and Genstar Capital, had around 500 employees overseeing more than $25.5 billion in client assets from over 45 locations across the country as of the end of 2020, the company says. The company had reported managing $21 billion in October.

Mercer Advisors added seven RIAs last year, putting the company among the top five RIA acquirers in 2020, Echelon Partners said in December.

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Tags:  Finding and winning new clients , Client retention , Staffing and recruiting , Echelon Partners , Mercer Global Advisors

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