Santa Barbara, Calif.-based Mercer Advisors has announced the purchase of New York-based Novos Planning Associates.
Novos Planning Associates co-founder Madeline Noveck, who has served as the company’s president, and her advisory team will join Mercer’s east region team centered in New York.
Novos, with $100 million in client assets, is Mercer’s first acquisition in 2017. In 2016, the firm acquired three investment advisors and a trust company, Kanaly Trust.
As of November 30, Mercer had $9.4 billion AUM and more than 6,300 clients.