PE-backed Mercer Advisors buys Epstein & White Financial

Mercer Global Advisors Inc, which is backed by Oak Hill Capital and Genstar Capital, has acquired Epstein & White Financial LLC, a San Diego-based wealth management firm.

Mercer Global Advisors Inc, which is backed by Oak Hill Capital and Genstar Capital, has acquired Epstein & White Financial LLC, a San Diego-based wealth management firm. No financial terms were disclosed. Park Sutton Advisors LLC served as financial advisor to Epstein & White Financial, LLC on the deal with Riezman Berger, P.C. providing legal advice.

PRESS RELEASE

DENVER, March 10, 2021 – Mercer Global Advisors, Inc. (“Mercer Advisors”), a national Registered Investment Adviser (RIA), today announced the acquisition of Epstein & White Financial LLC (and related entity Epstein & White Retirement Income Solutions, LLC) (hereinafter collectively referred to as “EWF”), a respected wealth management firm located in San Diego, California. EWF serves approximately 1,300 clients with client assets of approximately $740 million. EWF was founded in 2013 by Brad White, CFP® focusing on delivering comprehensive wealth management services to their mass affluent and high net worth (HNW) clients. EWF has over twenty (20) team members who will be joining the Mercer Advisors’ team.

Brad White, Founder and CEO, is a Certified Financial Planning professional. He has appeared locally on television stations, Fox News and CBS, and the Big Biz Radio Show with Dave Sully. In addition, he is the author of The Step-by-Step Guide on How to Retire Right and is a featured contributor in numerous Kiplinger articles. Brad is also the host of Retire Right with Epstein and White, on KOGO 600. EWF has achieved outstanding organic growth averaging approximately 75% per annum since 2015.

Commenting on the transaction, Brad White, Founder (“Brad”), stated: “Ours is a fast-growing comprehensive wealth management firm. We know how to win new clients, but we also realized that at the pace we are growing we needed to add significant scale and corporate architecture. We needed to partner with a fully institutionalized RIA that had built out fully scaled middle and back office functionality that could handle our explosive growth.

While we had many suitors, after meeting with “the Daves”, Dave Welling, Mercer Advisors’ current CEO, and Dave Barton, former CEO and now heading up M&A for Mercer Advisors, I knew we found the right home. Working with the Daves was like working with Batman and Batman, a formidable team to be sure and I was impressed to be working with two Mercer Advisors CEOs. Mercer Advisors not only provides all the resources and support we need to support our growth, but also enhanced our client service offering through the provisioning of their in-house family office services like estate planning, tax consulting and return preparation, corporate trustee services. Finally, our business is complex and has many moving parts and as such we needed a partner that could support our existing growth initiatives and expand them. Mercer Advisors checked all those boxes. We couldn’t be more excited to be joining the Mercer Advisors team!”

David Barton, Vice Chairman, who led this transaction on behalf of Mercer Advisors added: “Brad is a “creative”, a marketing whiz kid who has built something truly unique. His marketing engine reliably produces new clients in volume through his proven techniques. We believe we can take what Brad is doing in Southern California and syndicate his programs nationwide adding more firepower to our already significant marketing and sales platform. Not to be overlooked, Brad’s team is experienced, highly credentialed, and adds to our already deep bench in San Diego. With our two organizations sharing the same mission, vision and values, “winning” this transaction became a strategic priority for us. This is truly a win-win for both organizations.”

Dave Welling, Chief Executive Officer of Mercer Advisors said, “Brad has built an impressive team, and his marketing genius shines through. Epstein & White is a very strong team with a respected brand for supporting the needs of clients in Southern California. Our combination presents a significant strategic move as it adds to our already strong presence in Southern California where our teams are already entrusted with more than $5 billion in client assets and will add to our marketing prowess nationwide. We are excited to partner with the Epstein & White team and in supporting them to deliver expanded wealth management services to their clients.”

Park Sutton Advisors LLC served as exclusive financial advisor to Epstein & White Financial, LLC in this transaction with legal representation by Riezman Berger, P.C.

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 Registered Investment Advisers and financial planning firms in the U.S. with over $28 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has approximately 525 employees, and operates nationally across the country with 45+ locations. 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 has a related insurance agency. Mercer Advisors Insurance Services, LLC (MAIS) is a wholly owned subsidiary of Mercer Advisors Inc. Employees of Mercer Global Advisors serve as officers of MAIS. For Mercer Global Advisors clients who wish to purchase insurance products, MAIS has entered into a non-exclusive referral agreement with Strategic Partner(s). More information about MAIS and our Strategic Partners may be found in our Form ADV 2A. Visit us at www.merceradvisors.com.

Data as of March 31, 2021. AUM includes affiliates and wholly owned subsidiaries announced to date.