National registered investment advisor Mercer Inc, which is headquartered in Denver, Colorado, announced this week its acquisition of Austin, Texas-based peer Bell Wealth Management. With 20 years experience managing assets for an affluent and high net worth client base, Bell Wealth Management serves 125 households, with a combined asset portfolio valuated at US$200mn.
This represents the continuation of a period of dramatic growth for Mercer. So far in 2018, the firm also acquired Summit Strategies Group, Pavilion Financial Corporation and Daishowa-Marubeni International, among others.
Mercer’s latest acquisition brings its total assets under management to an estimated $15bn. Both Bell Wealth Management and Mercer have a history of providing wealth management services to medical professionals, according to Mercer CEO Dave Welling.
“Mercer Advisors currently serves over 1,500 physicians and dentists nationwide, helping these clients in multiple areas including tax planning, estate planning, asset protection, and corporate trustee advisory services”, he said. “We look forward to working with Colin and his team to expand our footprint in Texas and to deepen our local talent pool."
Colin Bell, president of Bell Wealth Management said in a press release: "When we first began thinking about the possibility of merging with a larger firm, there were several names I thought might be a good fit. However, after a significant amount of research and discussion, it became clear that Mercer was the right partner for us… Mercer shares our values, our investment philosophy, and our passion for serving people. Therefore, we are very excited to continue our professional journey with Mercer Advisors."