Mercer Advisors Inc, a portfolio company of Genstar Capital, has acquired Financial & Investment Management Group Ltd. Financial terms weren’t announced. Financial & Investment Management, of Traverse City, Michigan, is wealth management RIA serving over 1,500 mass affluent and high net worth clients.
DENVER, November 15, 2018 – Mercer Advisors Inc. (“Mercer Advisors”), a national Registered Investment Advisor (RIA), today announced the acquisition of Financial & Investment Management Group, Ltd. (FIM Group), a large wealth management firm headquartered in Traverse City, MI, with branch offices in Onalaska, WI and Kahului, HI. FIM Group is a comprehensive wealth management RIA serving over 1,500 mass affluent and high net worth clients.
The addition of FIM Group’s offices in WI and MI add to Mercer Advisors’ existing central office footprint in the Detroit metropolitan area of Michigan, Chicago, IL, and Columbus, OH and cements our commitment to the region and establishes our beachhead in the Hawaiian Islands. The FIM Group acquisition brings Mercer Advisors’ total offices to 35 and, with $600 million of Assets Under Management (AUM), increases Mercer Advisors’ AUM to approximately $14.5 billion.
FIM Group (like Mercer Advisors) was one of the first fee-only wealth management firms in the United States and was founded by Paul Sutherland, CFP® in 1984. He serves as the firm’s President and Chief Investment Officer and will continue with Mercer Advisors. FIM Group will add 14 credentialed team members to Mercer Advisors’ growing employee ranks which now exceed 300 team members nationwide.
“I had always thought that if we could find a firm doing things as well or better than us, I would merge with them. With Mercer Advisors, I found that firm,” said Paul Sutherland. Sutherland added, “As we celebrated our 35th anniversary of serving clients, we took the time to reflect both back and into the future, determining that this new relationship would allow us to enhance client service, innovation and specialized services. Mercer Advisors was a perfect fit for us and we are glad we made that decision.”
Dave Welling, Chief Executive Officer of Mercer Advisors, said, “We are delighted to welcome Paul and his talented team to our organization and we look forward to serving FIM Group clients for years to come. This acquisition was strategic for us and our vision to offer highly personalized wealth management through local offices and teams who are embedded in their communities with deep relationships with clients.” Welling added, “Along with Paul, FIM Group deepens our leadership bench adding seasoned players like Jeff Lokken, CFP®, Barry Hyman, MBA, Matt Bohrer COO, CCO, Barbara Wilson CPA, CFP®, CRPC®, and Sara Harding, among others.”
Mercer Advisors Vice Chairman David Barton, who leads the company’s M&A activity, said, “FIM Group’s addition to the Mercer Advisors family is significant. It not only adds a physical presence where we need it, but adds a dozen CFPs® / CFAs®. In an industry like ours, talent matters and it’s scarce. This is a big add. Also important, FIM Group shares our desire to service our clients at the very highest level and create comfort and security around their economic freedom. We agree that having a financial plan and having dedicated professionals monitor and manage that for our clients removes the anxiety heaped upon us by a 24/7 news cycle mostly selling fear.” Barton added, “In this regard, Mercer Advisors and FIM Group provide that level of protection provided by our panoply of professional services delivered by a team of different subject matter experts all working toward one goal – the economic wellness of our clients. We are the Mayo Clinic for financial care.”
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 approximately $14.5 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 300 employees, and operates nationally through 35 branch offices across the country. For more information, visitwww.merceradvisors.com.
Data as of November 15, 2018. AUM includes affiliates and wholly owned subsidiaries.