Mercer Global Advisors Inc. on Tuesday announced it acquired Arbor Asset Management LLC, a roughly $350 million wealth management firm in Ann Arbor, Mich.
The addition of Arbor Asset Management is the second pickup this year for the ever-acquisitive Mercer Advisors, which bought eight RIA firms last year in its aggressive push to expand nationally.
The Denver-based company now has 39 branch offices with about $15 billion in client assets.
Arbor Asset Management was founded in 1996 by its president, Neil Paolella, who along with his four team members will join Mercer Advisors as its third office in Michigan.