Mercer expands in US with purchase of two wealth management firms

Mercer Global Advisors has acquired Poterack Capital Advisory (PCA) and Long Run Wealth Advisors, adding astir $905m successful assets nether absorption to its portfolio.

PCA, based successful Jackson, Wyoming, manages astir $265m successful lawsuit assets.

Founded successful 2001 and led by CEO Ryan Poterack, the steadfast serves clients crossed much than 30 states, operating wrong a virtual model.

The team, which includes Anna Hopkins and Alec Quaid, provides services specified arsenic plus management, taxation strategies and wealthiness readying done a virtual model.

As portion of Mercer Advisors, the PCA squad volition present beryllium capable to utilise further resources, including concern management, property and taxation planning, and fiscal readying tools.

Mercer Advisors enforcement managing partner, M&A spouse development, Ted Motheral said: “Ryan and his squad are forward-thinking and enactment tirelessly successful work of their clients.

“Their maturation mindset and next-generation endowment align good with our semipermanent vision, and we look guardant to supporting their continued success.”

Long Run Wealth Advisors manages astir $640m and is based successful Lake Placid, New York. The steadfast is led by Kevin Brady and Lynn Magnus.

Its seven-person squad offers fiscal readying and wealthiness services to a scope of clients including individuals, concern owners, retirees and nonprofit groups.

The summation of Long Run Wealth Advisors extends Mercer Advisors’ scope wrong upstate New York and neighbouring regions specified arsenic Vermont.

The Long Run squad volition besides person entree to expanded services and resources offered by Mercer Advisors.

Motheral commented: “Kevin and Lynn person built a talented, growth-minded team, with a wide committedness to multigenerational lawsuit relationships.

“That operation of seasoned enactment and beardown civilization is precisely what we question successful a partner. Their committedness to semipermanent lawsuit continuity makes them an fantabulous addition, and we’re thrilled to invited the squad to Mercer Advisors.”

Last month, Mercer Advisors purchased Glass Jacobson Wealth Advisors, which managed adjacent to $1bn successful assets astatine the clip of acquisition.

"Mercer expands successful US with acquisition of 2 wealthiness absorption firms " was primitively created and published by Private Banker International, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.