PE-backed Mercer Advisors buys Convergent

Mercer Global Advisors, which is backed by Oak Hill Capital and Genstar Capital, has acquired Convergent Wealth Management LLC, a Chesterfield, Missouri-based wealth management firm. No financial terms were disclosed.

PRESS RELEASE

DENVER, March 31, 2022 – Mercer Global Advisors, Inc. (“Mercer Advisors”), a national Registered Investment Adviser (RIA), today announced the acquisition of Convergent Wealth Management, LLC, (“Convergent”), a respected wealth management firm headquartered in Chesterfield, Missouri. Convergent has approximately $130 million assets under management (AUM).

Convergent was founded by John P. Stobbs CPA/PFS, Managing Member, and Jeannie Seabaugh Investment Advisor, Analyst and Managing Member. The entire Convergent team will be joining Mercer.

According to Convergent’s management team, “Convergent believes all aspects of our lives are intertwined, and a viable financial plan cannot be fully developed without integrating it with your values, life goals, and desires. We wish to develop a meaningful relationship with our clients, which allows us to best meet their needs. Employing a holistic approach, we work closely with each of our clients through each step in our process to formulate, implement, and then monitor the success of their individual financial plan. Since no two clients are alike, Convergent integrates investing, estate planning, college planning, risk management, tax advice and business services into one complete personal solution for every individual, family or business we serve.”

Commenting on the transaction, Co-Founder Jeannie Seabaugh (“Jeannie”) stated: “Convergent specializes in tailored wealth management services for working professionals, entrepreneurs, small business owners, and all those nearing retirement. As John and I investigated our succession planning options, key to our decision was finding a partner firm that anchored on these same principles and had a long operating history of providing the highest level of financial care to their clients. After meeting with David Barton, Mercer Advisors’ Vice Chairman who leads mergers and acquisitions for Mercer Advisors, we knew we had found that right partner that shared our mission, vision, and values.” Co-Founder John P. Stobbs (“John”), added: “We loved that Mercer Advisors provided in-house estate planning, tax return services, and corporate trustee capability to their clients which is fully integrated within their financial planning and investment management solutions with vast optionality.

This type of multidisciplinary client care was exactly the type of service set we wished to bring to our clients. The fact we could also offload onerous and time-consuming back-office responsibilities to them was icing on the cake. We couldn’t be more excited to join the Mercer Advisors team.”

David Barton, Vice Chairman who led this transaction on behalf of Mercer Advisors added: “Jeannie and John, live and breathe the fiduciary model and the only interests they consider are the best interests of their clients. They are both highly credentialed, seasoned professionals, and are exactly the type of talented people we seek to add to the Mercer Advisors team in our talent-starved industry. We believe this is a win-win for all constituents to the transaction; the Sellers, their team, and of course their clients.”

Dave Welling, Chief Executive Officer of Mercer Advisors said, “Jeannie and John have built a great business and strong team, and they are highly respected wealth management professionals. We are honored that they selected Mercer Advisors as their partner and we look forward to serving Convergent’s clients for years to come.”

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. Mercer Global Advisors is one of the largest Registered Investment Advisors and financial planning firms in the U.S. with over $39 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 680 employees, and operates nationally through 60+ offices across the country. For more information, visit www.merceradvisors.com.