Mercer Advisors, backed by Oak Hill and Genstar, buys wealth manager Goldstein Munger

The deal expands Mercer's presence in California.

  • Goldstein Munger is a $1 billion wealth manager focused on serving ultra-high-net-worth individuals
  • The deal grows Mercer Advisors’ presence in California
  • Goldstein Munger was exclusively represented by investment bank DeVoe and Company throughout the deal

Mercer Global Advisors announced it has acquired Goldstein Munger & Associates. The San Ramon, California-based wealth management firm has approximately $1 billion in assets under management and bolsters Mercer’s presence in California.

Goldstein Munger focuses on serving ultra-high-net-worth individuals.

Richard Goldstein, principal, has been a certified public accountant for over 40 years. He founded R. M. Goldstein Accountancy Corporation in 1979 from which GoldsteinEnright Financial Advisers, Inc. was created, and which is now known as Goldstein Munger. Robert Munger, principal, joined the firm and partnered with Goldstein.

“Bob and Rich lead a highly respected wealth management team in northern California and beyond. Their brand is strong and represents the high integrity of their business and staff,” said Dave Welling, CEO of Mercer Global Advisors. “Their deep experience in integrating financial planning, tax, estate and philanthropic planning, are a great fit with our family office service model for high-net-worth and ultra-high-net-worth clients.”

Mercer Global Advisors is a total wealth management firm that provides investment management, financial planning and family office services. The firm is headquartered in Denver and is one of the largest Registered Investment Advisors and financial planning firms in the US with over $38 billion in client assets, according to the company. It is majority owned by Oak Hill Capital and Genstar Capital.

In June PE Hub reported Mercer’s acquisition of Midwest RIA Bivin and Associates in a deal that, again, aimed to expand Mercer’s presence in the Midwest.