Mercer Advisors Inc has acquired Newport Beach, California-based family office Duckworth Wealth Advisors Inc. No financial terms were disclosed.
SANTA BARBARA, CA, February 13, 2017 – Mercer Advisors Inc. (“Mercer Advisors”), a national Registered Investment Advisor (RIA) firm based in Santa Barbara, today announced the acquisition of Duckworth Wealth Advisors, Inc., a Newport Beach, CA-based family office offering investment management, financial planning, estate and tax planning, and corporate trustee services managing $160 million in client assets.
Founder Michael Duckworth, CPA, and additional principal owners Mark Doran, CPA, Kara Duckworth, CFP, and Elizabeth deSouza, CFP, lead a team of professionals providing comprehensive wealth management services for high net worth individuals and families with complex financial situations.
Mercer CEO David Barton, said, “Duckworth is a wonderful and complementary fit to our national family office and greatly expands our Southern California footprint. Mike and his team have built an impressive and growing business and we look forward to helping expand their capabilities and drive continued growth. This acquisition is the sixth transaction we have completed in the last year which is representative of a rapidly consolidating industry and the attractiveness of our business model – a Mayo Clinic approach to financial care. At 23 offices nationwide, we are among the largest independent family office RIA’s in the United States.”
Mr. Duckworth commented, “Our partnership with Mercer allows us to continue our focus on holistically serving clients, a culture we share with Mercer. Mercer will play an important role in supporting our continued growth and scale while further strengthening our ability to meet the current and future needs of our clients.”
This transaction increases Mercer’s assets under management to over $9.6 billion, with 6,400 clients nationwide.
Mercer in January announced the acquisition of Novos Planning Associates, Inc., a New York City based RIA firm managing $100 million in client assets.
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 over $9.6 billion in assets under management and more than 6,400 clients. Headquartered in Santa Barbara, California, Mercer Advisors is privately held, has over 200 employees, and operates nationally through 23 branch offices across the country. For more information, visit www.merceradvisors.com.
Data as of February 11, 2017. Includes AUM, client, and personnel statistics from Kanaly Trust, a wholly owned subsidiary of Mercer Advisors.