Mercer Global Advisors Inc, which is backed by Genstar Capital, has acquired Costa Mesa, California-based Jackson Financial Management Inc, a wealth management firm. No financial terms were disclosed.
DENVER, June 19, 2019 – Mercer Global Advisors Inc. (“Mercer Advisors”), a national Registered Investment Advisor (RIA), today announced the acquisition of Jackson Financial Management, Inc. (JFM), a large wealth management firm located in Costa Mesa, California, serving high net worth households throughout the United States with assets under management (AUM) of approximately $510 million.
The addition of JFM augments Mercer Advisors’ existing strong presence in Southern California with offices in Santa Barbara, San Diego, Los Angeles, and Newport Beach. Combined with JFM these five offices have a combined AUM of nearly $4B. The JFM acquisition brings Mercer’s total offices to 41, and increases Mercer’s AUM to over $16 billion.
JFM was founded in 1995 by Tracy O. Jackson, MS, CFP, President and Principal. For over 20 years, JFM has focused on delivering comprehensive wealth management services to their clientele which include corporate executives, medical professionals, and affluent families.
Tracy and his 13 team members will be joining Mercer Advisors.
Dave Welling, Chief Executive Officer of Mercer Advisors said, “I have known Tracy for many years and have tremendous respect for what he and his team have accomplished. They have built an incredibly successful business that puts the client first. Tracy and his team share our commitment to excellence and vision to deliver a truly integrated set of wealth management services all from one trusted firm.” Welling added, “JFM’s team, led by Tracy, are fantastic additions to the team and add to both our talent and expertise.”
Commenting on the transaction, President Tracy Jackson stated: “JFM was built upon the principle of delivering exceptional client service through a family office approach. When Dave Welling suggested we consider a merger I was at first skeptical because we have built at JFM a boutique, high touch service model I believed would be very difficult to replicate with a partner. Dave Welling convinced me to talk with Dave Barton, Mercer Advisors’ Vice Chairman who leads the company’s M&A activities. After talking with Dave Barton and doing extensive reverse due diligence with him and the Mercer team, it became clear to me that Mercer was not only a perfect fit for JFM staff and our clients, it was the only compatible fit given our mandate to operate as a family office advisor to HNW and UHNW clients.”
Dave Barton, who leads the company’s M&A activity, said, “Tracy demands the best out of himself and his team. He strives to serve his clients at the highest possible level, and expects the same from his new partner. Tracy put us through our paces to make sure our philosophy matched our execution. Our combination validates our strong business model and that Tracy saw in us what we saw in JFM – excellence.”
About Mercer Advisors
Established in 1985, Mercer Global Advisors Inc. (“Mercer Advisors”) 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 $16 billion in client assets.
Headquartered in Denver, Mercer Advisors is privately held, has over 360 employees, and operates nationally through 41 branches offices across the country. For more information, visit www.merceradvisors.com.
Data as of June 18, 2019. AUM includes affiliates and wholly owned subsidiaries.