Oak Hill Capital and Genstar-backed Mercer Global Advisors added-on Personal Financial Advisors, a wealth management firm in Covington, Louisiana. Robert Reed, who founded Personal Financial Advisors in 1999, will join Mercer along with three of his staff.
Mercer Global Advisors, Inc. (“Mercer Advisors”), a national SEC-Registered Investment Adviser (RIA), today announced the acquisition of Personal Financial Advisors, LLC (“PFA”), a respected wealth management firm located in Covington, Louisiana. PFA serves approximately 140 clients with assets under management (AUM) of approximately $105 million. Robert J. Reed, Jr., CFP® founded PFA in 1999 delivering full service financial planning and investment management services to their mass affluent and high net worth (HNW) clientele. Robert and his staff of three will be joining the Mercer Advisors team.
“Since beginning my financial services journey in 1981, my passion has been to focus on providing fiduciary advice to our clients using comprehensive retirement planning and cash flow guidance to help them reach their short- and long-term goals,” commented Robert Reed, founder of PFA. “Part of that planning process included completing our own business continuity planning to ensure our clients are well cared for beyond my participation in the business. My intent is to join an enduring, national RIA that would not only continue our current level of care for our clients, and do that for generations to come, but also expand the value proposition. I found that partner in Mercer Advisors.”
David Barton, Vice Chairman at Mercer Advisors who led the acquisition stated: “This is a true win-win business combination. Robert had four primary concerns a successful partner candidate must meet. First, they must be a great cultural fit and provide value add to their clients. Mercer Advisors’ family office service model and commitment to fiduciary based comprehensive financial planning checked that box. He also wanted to make sure his staff had employment continuity and career path opportunity. Robert loved all the opportunities for career development his staff could access. Third, the economics had to be right, it was. Finally, Robert wanted to offload back-office responsibilities so he and his team could focus their time on servicing existing clients and winning new ones.”
Dave Welling, Chief Executive Officer of Mercer Advisors said, “We are proud to have been selected by Robert and his team to carry forward a standard of excellence that PFA has created. PFA and Mercer both have more than 30 years of common history acting in the best interest of our clients. We look forward to Robert and his team joining Mercer Advisors, adding their years of experience and community involvement to our growing organization. We are also excited to establish our first physical presence in Louisiana which adds to our growing presence in the South.”
About Mercer Advisors
Established in 1985, Mercer Global Advisors, Inc. (“Mercer Advisors”) is a full-service wealth management firm that specializes in providing investment advice, financial and estate planning, and taxes, and corporate trustee and trust administration services. It is one of the largest independent Registered Investment Advisers and financial planning firms in the U.S. with $21 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 440 employees, and operates nationally across the country with 40+ locations. Mercer Advisors, Inc. is a parent company of Mercer Global Advisors Inc. (RIA), majority owned by both Oak Hill Capital and Genstar Capital. For more information, visit www.merceradvisors.com.