Mercer Global Advisors Inc., a Denver-based registered investment advisor with a national footprint, today announced it acquired Summit Wealth Advisors Inc., a wealth management firm in Frisco, Colo., with roughly $130 million in assets under management.
According to Summit’s Form ADV, the firm provides financial planning and investment advisory services for high-net-worth individuals, employer sponsored retirement plans, charitable organizations and trusts.
Summit was founded by Bob Lau, who is the firm’s principal advisor. He’s joined by Emily Messegee, who holds the certified financial planner designation and is a shareholder and client advisor.
The two advisors, along with operations director Kathy Perry, comprise a small team in the heart of Colorado ski country. And it was the firm’s small size that made them realize they needed a partner to help on the operations side so they could spend more time with their clients.
In an interview, Messegee said Summit hired FP Transitions in Portland, Ore., as its broker, and that it was FP Transitions that made the connection to Mercer Advisors.
“Because we’re a smaller RIA, we do a lot of our operations and compliance in-house, so we wanted to partner with a firm who could take some of that responsibility off of our plate so we could dedicate our attention to asset management and financial planning for our clients,” Messegee said.
Regarding Summit’s location in the Colorado Rockies, she noted that they feel very fortunate to be surrounded by about six world-renown ski resorts. And they just don’t look at the pretty scenery.
“We’re very active,” Messegee said. “It’s definitely about the work/life balance here. We work hard and play hard.”
Mercer Global Advisors’ parent company is Mercer Advisors Inc., which is majority owned by Oak Hill Capital and Genstar Capital. All told, the company has more than 40 locations across the country comprising about 440 employees and more than $20 billion in client assets.