Mercer Advisors Inc., a national RIA based in Santa Barbara, Calif., has acquired two RIAs that bring its assets under management to $11.6 billion.
The two firms joining Mercer are Murray & Co., a privately owned and independent RIA based in Austin, Texas, and Pinnacle Investment Management Inc., based in the greater Hartford, Conn., area.
Murray & Co. was founded in 1999 by Dean Murray and now has $85 million in AUM. The firm’s clients include high-net-worth individuals and families, endowments, nonprofit foundations and corporate pension funds.
Pinnacle is an investment management and financial planning firm providing wealth management services to individuals and institutions. Founded by John Eckel, who is CEO, the firm has $180 million in AUM.