Mercer Global Advisors Inc, a portfolio company of Genstar Capital, said Aug. 14 that it acquired Regent Wealth Management Group Inc. Financial terms weren’t announced. Regent Wealth, of Woodbridge, Connecticut, is a wealth management RIA that serves about 110 high net worth households with assets under management of approximately $300 million.
Mercer Advisors Acquires Regent Wealth Management Group, Inc.
Acquisition of Regent Wealth Management Group Increases Mercer Advisors’ Presence in Northeast
DENVER, August 14, 2019 – Mercer Global Advisors Inc. (“Mercer Advisors”), a national Registered Investment Adviser (RIA), today announced the acquisition of Regent Wealth Management Group, Inc. (“Regent”), a respected wealth management RIA located in Woodbridge, Connecticut, serving approximately 110 high net worth households with assets under management (AUM) of approximately $300 million.
The addition of Regent augments Mercer Advisors’ already strong presence in the Northeast increasing its branch count to eleven (11) offices in the region with approximately $2.7 billion in AUM, and three offices in Connecticut. The Regent acquisition brings Mercer’s total offices to 43, and increases Mercer Advisors’ total AUM to over $16.5 billion.
Regent was founded by Alan P. Weiss, CFP®, CPA in 1987 focusing on the unique needs of high net worth individuals and families. Accordingly, Regent provides comprehensive wealth management services to its clientele and is their proverbial “trusted Advisor” managing all aspects of their clients’ financial lives.
Dave Welling, Chief Executive Officer of Mercer Advisors said, “Alan and his staff are great additions to the team. Alan has built out a deep bench of seasoned professionals and the mix of talent in Woodbridge strengthens our Team with other nearby Mercer Advisor offices in Hartford and Fairfield.”
Commenting on the transaction, President Alan Weiss stated: “Regent was founded and built around holistically servicing our clients’ financial needs at the highest level. It was equally important that we provide unbiased advice to our clients; being ‘fee only’ and a ‘fiduciary’ to our clients is something we take very seriously – it’s not just something we put in our Form ADV. Thus, it was important to me we found a partner that put clients’ interests first like we do. When I spoke with David Barton, Vice Chairman for Mercer Advisors, I knew we found the right partner. As the former CEO of Mercer Advisors, David Barton understood first-hand the challenges facing RIAs today and he convinced me that Mercer Advisors was the right partner for me, our clients, and our staff. We couldn’t be more excited to join the Mercer Advisors team.”
David Barton, added, “Alan is a man of high integrity and is the living embodiment of the highest ideals and standards our industry was built on. He doesn’t make a single decision without first asking the question, ‘Is this good for our clients?’. For Alan, the right partner for Regent was not the one that would pay the highest price. His criteria or profile for the right partner was someone who of course would pay a fair price for his business, but most importantly be a great fit, and add value to, his clients and staff to whom he is deeply loyal and committed to. We share a common mission, vision and values, providing a solid bedrock for our transaction and go-forward partnership. As a CFP® and CPA, Alan is also a highly credentialed and top professional in our industry. He is a nationally syndicated columnist and loves mentoring young advisors. He and his staff are a great fit for Mercer Advisors, and we are a good home for them.”
About Mercer Advisors
Established in 1985, Mercer Global Advisors Inc. (“Mercer Advisors”) is a total wealth management firm that provides comprehensive, fee-based 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 $16.5 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 360 employees, and operates nationally through 43 branches offices across the country. For more information, visit www.merceradvisors.com.
Data as of August 14, 2019. AUM includes affiliates and wholly owned subsidiaries.