Mercer Global Advisors Inc, a portfolio company of Genstar Capital, said July 16 that it acquired Physicians Financial Advisors Inc. Financial terms weren’t announced. Physicians Financial Advisors, of Newport Beach, California, is a boutique RIA serving 80 high net worth households throughout the United States.
Mercer Advisors Acquires Physicians Financial Advisors
Acquisition of Physicians Financial Advisors Increases Mercer Advisors’ Presence in Orange County California
DENVER, July 16, 2019 – Mercer Global Advisors Inc. (“Mercer Advisors”), a national Registered Investment Adviser (RIA), today announced the acquisition of Physicians Financial Advisors, Inc. (PFA), a boutique RIA located in Newport Beach, California, serving 80 high net worth households throughout the United States.
The addition of PFA augments Mercer Advisors’ existing strong presence in Southern California and more specifically its regional hub office in Newport Beach, now serving, collectively, over 1,000 households with approximately $1.6 billion of AUM. PFA’s office will integrate into Mercer Advisors’ existing Newport Beach location. Mercer Advisors already has five offices located in Southern California: Santa Barbara, San Diego, Los Angeles, Costa Mesa, and Newport Beach. The PFA acquisition brings Mercer Advisors total offices to 42, andincreases its AUM to over $16 billion.
PFA was founded by Dr. Erik Thurner, President, MD and CFP®, and as a physician established a niche clientele of physicians. The firm is uniquely suited to serve the medical community. PFA provides comprehensive wealth management services to its high net worth, physician focused clientele. Dr. Thurner and his staff will be joining Mercer Advisors.
Dave Welling, Chief Executive Officer of Mercer Advisors said, “Erik and his staff are great additions to the team and expand our expertise serving medical professionals. We currently serve approximately 2,000 physicians and dentists and we know the unique needs of these clients well. Erik’s acumen and leadership will make a difference as we deepen our outreach to this professional community.”
Commenting on the transaction, President Erik Thurner stated: “PFA was built upon the principle of delivering exceptional client service to physicians across the United States. I understand their work experience and what makes them tick. We have built out a customized service model designed to service their unique, and often complex, financial needs. After speaking with Dave Barton, Vice Chairman leading Mergers and Acquisitions, it was quickly apparent to me that Dave deeply understood the physician and dentist markets, and that Mercer Advisors was the right landing spot for me, my staff, and most importantly our clients. We couldn’t be more excited to join the Mercer Advisors team.”
Dave Barton, added “Erik is a modern-day Renaissance man, physician, CFP®, entrepreneur and visionary in the medical wealth management space. Much like Erik, Mercer Advisors has nearly 35 years of experience serving physicians and dentists and for years was the leading provider of business consulting services to dentists. Our deep institutional knowledge on how to best serve physicians and dentists made this a perfect fit, sharing the same mission, vision and values. Through our national platform, we can provide the infrastructure and expanded voice to increase and equip Erik’s outreach to this HNW and UHNW community.”
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 Advisers 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 42 branch offices across the country. For more information, visitwww.merceradvisors.com.
Data as of July 16, 2019. AUM includes affiliates and wholly owned subsidiaries.