Oak Hill Capital and Genstar-backed Mercer Global Advisors has acquired Frisco, Colorado-based Summit Wealth Advisors, a wealth management. No financial terms were disclosed.
DENVER, August 5, 2020 – Mercer Global Advisors Inc. (“Mercer Advisors”), a national Registered Investment Adviser (RIA), today announced the acquisition of Summit Wealth Advisors, Inc. (“Summit”), a respected wealth management firm located in Frisco, Colorado with assets under management (AUM) of approximately $130 million. Robert Fred Lau (“Bob”) founded Summit in 1993 to deliver full service financial planning and investment management services to their mass affluent and high net worth (HNW) clientele. Emily Ann Messegee (“Emily”), CFP®, also a shareholder and Client Advisor, will also be joining Mercer Advisors along with the Summit team.
Summit’s mission is to proactively manage their clients’ wealth with honesty and integrity and has been serving the wealth management needs of clients for the past 27 years. Summit specializes in holistic financial planning including asset management, portfolio construction and maintenance, retirement planning for individuals and small businesses.
According to Founding Principal, Bob Lau, “We are active community leaders and truly believe in selfless acts of kindness. We hold ourselves to the highest degree of fiduciary standards and professionalism and strive to fulfill the long-term financial objectives of our clients. In talking with David Barton, Mercer Advisors’ Vice Chairman, who leads Mergers and Acquisitions and other members of the Mercer Advisors team, Emily and I knew we found the right partner for us, our staff, and our clients.”
David Barton who led this transaction stated: “Bob and Emily are great people, truly care about their clients who they consider family. Bob and Emily were looking to partner with a firm that could take over costly and time-consuming back-office responsibilities – time they could not spend with their clients or spend winning new ones. Also, they found a winning combination with the ability to provide additional services to their clients through Mercer Advisors’ in-house estate planning attorneys and tax return preparation services. In joining the Mercer Advisors team, they solved all of that. This is a win-win for both parties.”
Chief Executive Officer of Mercer Advisors, Dave Welling said, “We look forward to Bob and Emily joining the team, adding their years of experience and community involvement to our growing presence in Colorado. From the very first conversations with Bob, Emily and the Summit team, it was clear we had a unified vision on how to serve clients and our communities.”
The addition of Summit expands Mercer Advisors’ presence in the state of Colorado where Mercer Advisors is entrusted with over $2 billion of client assets. The firm relocated its corporate headquarters from California to Denver in 2018 and now services clients across the entire state.
Summit Wealth Advisors, Inc. was represented by James Fisher of FP Transitions, a leading investment banking and advisory firm specializing in the RIA space.
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. Mercer Advisors, Inc. is a parent company of Mercer Global Advisors Inc. (RIA), majority owned by both Oak Hill Capital and Genstar Capital. It is one of the largest independent Registered Investment Advisers and financial planning firms in the U.S. with over $20 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 440 employees, and operates nationally across the country with 40+ locations. For more information, visit www.merceradvisors.com.
Data as of August 5, 2020. AUM includes affiliates and wholly owned subsidiaries.