Mercer Advisors Inc, which is backed by Genstar Capital, has acquired San Mateo, California-based Dragon Financial Group, a provider of financial planning and investment management services. No financial terms were disclosed.
DENVER, January 3, 2019 – Mercer Advisors Inc. (“Mercer Advisors”), a national Registered Investment Adviser (RIA), today announced the acquisition of Dragon Financial Group (“Dragon”), a RIA firm located in San Mateo, California. Dragon provides financial planning and investment management services to investors in the San Francisco Bay area.
Dragon has more than $110 million of Assets Under Management (AUM) and is owned and operated by Principals Joseph Mah and Marie Chao. This acquisition brings Mercer Advisors’ total offices to 38 and expands its existing California footprint to seven offices.
Dave Welling, Chief Executive Officer of Mercer Advisors, said, “We are delighted to be joining forces with Joseph and Marie and the entire seven-member Dragon Team. Their “personal CFO” service philosophy mirrors our Family Office business model and actualizes their vision for comprehensive, multi-disciplinary client care. This acquisition also allows us to further build out our presence in the Silicon Valley augmenting Dragon’s impressive record of servicing highly compensated, young professional clientele.”
“We are thrilled to become part of this unique organization that shares our values and fiduciary commitment to putting our clients’ interests first,” said Joseph Mah, Principal of Dragon Financial Group. Marie Chao, Principal of Dragon Financial, added, “Mercer Advisors has the scale to offer a robust set of financial planning and investment services while still offering individualized attention and a high level of client service that has been a hallmark of Dragon Financial.”
David Barton, Vice Chairman of Mercer Advisors who leads the company’s M&A activity, said, “Mercer Advisors is an excellent cultural fit for Joe, Marie, and their team. We both believe in the fee-only, fiduciary, planning centric business model and share an unwavering commitment to put clients first. Likewise, we both integrate high technology throughout our service offering to ensure clients receive cutting edge advice 24/7 through formats and mediums relied upon in our on-demand world. Finally, the fact that Dragon drew from the young professional communities of both San Francisco and San Jose was attractive to us.”
Dragon Financial Group was represented by DeVoe & Company, a leading strategic advisor to RIAs, offering consulting, investment banking, and valuation services.
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 independent Registered Investment Advisers and financial planning firms in the U.S. with approximately $14 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 330 employees, and operates nationally through 38 branch offices across the country. For more information, visit www.merceradvisors.com.
Data as of January 3, 2019. AUM includes affiliates and wholly owned subsidiaries.