Santa Barbara, Calif.-based Mercer Advisors has announced the acquisition of Rochester, N.Y.-based Wealth Design Services.
Led by founder and president Steven Schwartz, Wealth Design Services manages about $160 million in client assets as an RIA and also maintains a tax practice.
In the past 16 months, Mercer has completed seven acquisitions, according to the company’s announcement, adding more than $2.6 billion in assets. With its most recent purchase, Mercer now has more than $10.6 billion AUM.