PE-backed Mercer Advisors buys Iowa wealth management firm

Mercer Global Advisors Inc, which is backed by Oak Hill Capital and Genstar Capital, has acquired Marrs Wealth Management Inc, a wealth management firm based in Ames, Iowa.

Mercer Global Advisors Inc, which is backed by Oak Hill Capital and Genstar Capital, has acquired Marrs Wealth Management Inc, a wealth management firm based in Ames, Iowa. No financial terms were disclosed.

PRESS RELEASE

DENVER, January 25, 2021 – Mercer Global Advisors, Inc. (“Mercer Advisors”), a national Registered Investment Adviser (“RIA”), today announced the acquisition of Marrs Wealth Management, LLC, (“Marrs”), a respected wealth management firm located in Ames, Iowa. Marrs serves approximately 275 clients with assets under management (“AUM”) of approximately $215 million.

Marrs was founded in 2010 by Craig Marrs, CFP®, CIMA®, AIF® (“Craig”), focusing on delivering comprehensive wealth management services to high net worth (HNW) clients. Marrs has three LLC members: Craig, Andra L. Reason, CPA, CFP®, and CSEP® (“Andra”), and Nathan Brammer, MBA, CIMA®, AIF® (“Nate”). In all, four Marrs team members will be joining the Mercer Advisors’ team. The Marrs transaction closed December 31, 2020. From November 30 to December 31, Mercer Advisors acquired seven RIAs with a combined total of nearly $3.9B in AUM serving over 3,200 new clients with its expanded wealth management offering.

At Marrs Wealth Management, they understand the need to balance their clients’ current obligations with their future expectations, and they help their clients develop a plan to achieve that balance. Marrs was recognized for the fourth year in a row in AdvisoryHQ’s 2019 Ranking of the Top Financial Advisors in Iowa. The firm was one of only nine firms in the entire state of Iowa to be honored and is the only firm in Ames honored with this award.

Commenting on the transaction, Craig Marrs, Founder, stated: “We had been internally revising our succession planning for some time. We agreed the best course of action for us was to join a national partner that shared our commitment to serve our clients at the highest level, while simultaneously enhancing the client experience by offering more in-house services like estate planning, insurance planning, and tax return preparation. We met many times with David Barton, Vice Chairman and M&A Leader at Mercer Advisors, and we loved what they had to offer to us, our staff, and most importantly our clients. We are very excited to be joining the Mercer Advisors’ team.” Andra Reason added, “We worked with David Barton and other Mercer Advisors’ staff over the past several months to complete all the necessary documentation like our letter of intent, purchase and employment agreements, but also developed a vision for how our two companies would come together operationally. I felt at ease knowing Mercer Advisors has a process developed over years of experience merging RIA firms like ours.” One of Nate’s top priorities was to find a national firm that matched our footprint. He stated, “We have clients across the nation. Partnering with Mercer Advisors will make it even easier to help clients as their life’s mission changes and they relocate.”

David Barton who led this transaction on behalf of Mercer Advisors stated: “Craig, Andra and Nate have built a great business and they are highly regarded in the Hawkeye (and Cyclone) state. Like other growing firms, they found themselves wearing many hats and spending their time performing non-revenue producing but nonetheless necessary back-office work. With Mercer Advisors taking over their back-office functions, they now have more time to do what they do best, serve their current clients and develop relationships with new ones.”

Dave Welling, Chief Executive Officer of Mercer Advisors said, “We are very excited to partner with Craig, Andra, Nate, and the Marrs team. We share their commitment to putting clients’ needs first and providing them with the highest quality financial care. We look forward to expanding our presence in Iowa and the Midwest.”

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 $27 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 December 31, 2020. AUM includes affiliates and wholly owned subsidiaries announced to date.