Mercer Advisors Inc, a Genstar Capital portfolio company, has acquired Beacon Wealth Management. Financial terms were announced. Beacon Wealth Management is a boutique wealth management firm emphasizing sophisticated financial planning for high net worth individuals.
DENVER, November 5, 2018 – Mercer Advisors Inc. (“Mercer Advisors”), a national Registered Investment Advisor (RIA), today announced the acquisition of Beacon Wealth Management(BWM), a boutique wealth management firm emphasizing sophisticated financial planning for high net worth individuals.
The addition of BWM’s Hackensack, New Jersey and Palm Beach, Florida offices deepens Mercer’s footprint in the Northeast and Southeast, increases Mercer’s total offices over 30, and, with $230 million of Assets Under Management (AUM), increases Mercer’s AUM to over $13 billion.
BWM was founded in 2002 by Founder and CEO Mark Germain, CFP®, MBA, ADPA® and he and his six staff members will continue their journey with Mercer Advisors. BWM today provides comprehensive financial planning and investment management services to its 170 clients and households.
Dave Welling, Chief Executive Officer of Mercer Advisors, said, “We are delighted to welcome Mark and his talented team to our organization and we look forward to serving BWM’s clients for years to come. This acquisition further solidifies our presence in the Northeast.” BWM’s Hackensack office will add another beachhead for clients along with our two office in New York City, Princeton NJ and two offices in Connecticut. “We are also excited to expand our presence in Florida which will join our growing presence in the Southeast alongside our Atlanta and Clearwater Florida offices.” Added Welling.
Commenting on the transaction, Mr. Germain said, “Beacon’s vision and mission was and is to comprehensively serve the needs of our clients and do so with the utmost integrity and highest acumen. We’ve done that. In searching for a partner to ensure continuity for my team and clients it was critical to me to find a firm that shared my business values and commitment to our fiduciary standard for financial planning and comprehensively serving the needs of our clients. I found that partner in Mercer Advisors. Since my first meeting with Vice Chairman, David Barton and including every Mercer Advisors team member I met over and again convinced me Mercer was the best choice for Beacon and our clients. Their unwavering commitment to delivering the highest quality financial planning and family office services under one roof, was the difference maker for me and my team. We are extremely excited to be partnering with Mercer.”
David Barton, who leads the company’s M&A activity, said, “Mark and his team share our philosophy of providing multidisciplinary services to our clients. The fact that Mercer has been a fee only, financial planning centric firm since 1985 ~ long before it became vogue ~ were table stakes for Beacon. Why we stood out among many other buyers for BWM was the in-house provision of estate planning documentation, tax return preparation, and corporate trustee work supervised by our Certified Trust Financial Advisors. Further, our year over year robust growth assured for Mark that his team members would have long and successful careers at Mercer with many career path options. Mark has built a great business and he found in us a partner with seamless cultural alignment.”
About Mercer Advisors
Established in 1985, Mercer Advisors Inc. is a total wealth management firm that provides comprehensive, fee-only investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, asset protection expertise, and corporate trustee and trust administration services. Mercer Advisors is the parent company of Mercer Global Advisors, one of the largest Registered Investment Advisors and financial planning firms in the U.S. with over $13 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 300 employees, and operates nationally through over 30 branch offices across the country. For more information, visit www.merceradvisors.com.
Data as of November 1, 2018. AUM includes affiliates and wholly owned subsidiaries.