Mercer Advisors, which is backed by Genstar Capital, has acquired Little Neck, New York and Boynton Beach, Florida-based Ray Mignone Associates, a provider of financial planning and investment management services. No financial terms were disclosed.
SANTA BARBARA, CA, September 8, 2017 – Mercer Advisors Inc. (“Mercer Advisors”), a national Registered Investment Advisor (RIA) firm based in Santa Barbara, today announced the acquisition of Ray Mignone Associates, a provider of financial planning and investment management services with $290 million of assets under management.
Ray Mignone, founder of the firm, has been a Certified Financial Planner since 1989 and he and his entire team will join Mercer. The company has offices in Little Neck, NY and Boynton Beach, FL. “This is an exciting development for our firm, and our entire team looks forward to joining Mercer to diversify our services and further build client relationships. Mercer is a leading wealth management firm whose philosophy is tailor made for our independent, fee-only investment approach. They see things the way we do and always put clients first.”
Dave Welling, CEO of Mercer, said, “Ray has built an impressive business and this transaction expands our presence both in New York and South Florida. We welcome their expertise and proven track record.”
Mercer Vice Chairman David Barton, who leads the company’s M&A activity, said, “We understand the effort that is required to build lasting relationships and earn the trust of clients so as we partner with new firms like Ray’s our goal is always to maintain that harmony while further building our clients’ financial picture offering a full suite of family office services. As before, Ray and his team will continue to service their clients and we will be there to support them. We’re thrilled to partner with Ray and his wonderful team and help grow these new Mercer branches.”
This transaction increases Mercer’s assets under management to approximately $11.3 billion, with 7,700 clients nationwide.
About Mercer Advisors
Established in 1985, Mercer Advisors Inc. is a total wealth management firm that provides comprehensive, fee-only investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, asset protection expertise, and corporate trustee and trust administration services. Mercer Advisors is the parent company of Mercer Global Advisors, one of the largest Registered Investment Advisors and financial planning firms in the U.S. with approximately $11 billion in assets under management and more than 7,700 clients. Headquartered in Santa Barbara, California, Mercer Advisors is privately held, has over 200 employees, and operates nationally through 24 branch offices across the country. For more information, visit www.merceradvisors.com.
Data as of September 7, 2017. Includes AUM, client, and personnel statistics from Kanaly Trust, a wholly owned subsidiary of Mercer Advisors.