Mercer Global Advisors Inc, which is backed by Oak Hill Capital and Genstar Capital, has acquired Lake Point Advisory Group, a wealth management firm based in Dallas-Fort Worth, Texas. No financial terms were disclosed. Park Sutton Advisors served as financial advisor to Lake Point Advisory Group on the deal.
DENVER, October 20, 2021 – Mercer Global Advisors, Inc. (“Mercer Advisors”), a national Registered Investment Adviser (RIA), today announced the acquisition of Lake Point Wealth Management, LLC dba Lake Point Advisory Group (“Lake Point”), a respected wealth management firm located in Dallas-Fort Worth, Texas. Lake Point serves clients with assets under management / advisement (collectively “AUM”) of approximately $700 million. Lake Point was founded in 2007 by Reid Johnson. Lake Point offers comprehensive wealth management to mass affluent and high-net-worth individuals, families, and their businesses. Reid and his team of 19 staff members will be joining Mercer Advisors.
Reid and the Lake Point team bring deep expertise in direct-to-consumer marketing through social media and delivery of educational seminars that combined are delivering significant organic growth. Reid hosts regularly scheduled live seminars and virtual presentations to help consumers prepare for what’s ahead. He has been published or quoted in several media outlets such as Wall Street Select, CNN, the Star Telegram, and Kiplinger. Reid studied business finance at the University of Utah and received his Bachelor of Applied Arts and Sciences from Texas A&M Commerce. The Lake Point team is passionate about helping individuals and families achieve their ideal retirements providing the framework and planning necessary to help achieve those goals.
Commenting on the transaction, Founder Reid Johnson stated: “We are a fast-growing firm, and we needed the scale and advisor support necessary to onboard the strong stream of clients we add each month. A friend of mine, Brad White, Founder and CEO of Epstein & White, a firm that Mercer acquired in March of 2021, mentioned I should talk to Dave Barton at Mercer Advisors to learn more about them. I did meet with Dave Barton, many times, and was very impressed with their family office business model and the opportunity to offer my clients additional services like in-house estate planning, tax return preparation and corporate trustee services. Most importantly, however, was their ability to better resource my operation and take over those back-office activities that drained our resources. I knew I had found the right home for my clients, my staff and for me; providing me the opportunity to do full time what I love doing ~ marketing and driving new client flow. This is a great business combination for all concerned. I couldn’t be happier.”
David Barton, Vice Chairman, who led this transaction on behalf of Mercer Advisors added: “Reid is a marketing genius, a growth savant. His skill sets in building multichannel marketing strategies are rare and as excited as he is to join us, we are just as excited to add his expertise to our marketing platform. Our combination is perfectly complementary.”
Dave Welling, Chief Executive Officer of Mercer Advisors said, “Reid has built an impressive multi-location business and is growing quickly. This acquisition brings together the strengths of our two organizations and builds a solid platform for future growth. Further, Reid has assembled a strong team adding to our already deep bench in Texas. This is the type of talent we seek to add to our team, and we look forward to offering expanding services to help better serve the current and future Lake Point clients.”
Park Sutton Advisors LLC served as exclusive financial advisor to Lake Point Wealth Management, LLC.
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, insurance solutions, and corporate trustee and trust administration services. Mercer Advisors Inc. is a parent company of Mercer Global Advisors Inc. (RIA), majority owned by both Oak Hill Capital and Genstar Capital, one of the largest Registered Investment Advisors and financial planning firms in the U.S. with over $32 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held and has over 560 employees.