PE-backed Mercer Advisors snaps up wealth management firm PAM

• PAM was founded in 1993 and is currently led by CEO Jeffrey S. Witt
• PAM serves over 600 clients with assets under management of approximately $720 million
• ECHELON Partners acted as financial advisor to PAM

Mercer Advisors, which is backed by Oak Hill Capital and Genstar Capital, has acquired San Diego-based wealth management firm Private Asset Management.

Mercer Advisors is a Denver-based wealth management firm.

PAM was founded in 1993 and is currently led by CEO Jeffrey S. Witt. PAM serves over 600 clients with assets under management of approximately $720 million.

On the deal, Dave Welling, CEO of Mercer Advisors, said in a statement, “The business combination between Mercer Advisors and PAM is a perfect cultural fit. We share the same mission, vision, and values of always putting clients’ interests first. We are thrilled they are joining the Mercer Advisors’ team and look forward to working together to help deliver meaningful results for our shared clients.”

ECHELON Partners acted as financial advisor to PAM while Withers Bergman LLP, served as legal counsel.

Mercer Advisors was stablished in 1985. The firm has over $48 billion in client assets.