Mercer Global Advisors today announced the acquisition of Transitions Wealth Management, a Denver, Colo.-based comprehensive wealth management firm serving more than 400 clients with about $465 million in assets under management, according to a news release.
Transitions Wealth Management (TWM) was founded in 1999 by a team of accountants including Bruce R. Bendell and Gary P. Saltzman who were later joined by financial advisors and shareholders Michelle R. Sandt-Wade and Michael G. Simmons. The team has broad-based expertise in investments, law, tax, insurance, and retirement planning, which enables them to help clients with investment and savings plans, reduce their tax burden, manage cash flow, optimize insurance coverage, review or establish estate planning, and help ensure charitable gifts have more impact, the release noted.
“We believe in providing holistic and comprehensive financial planning for our clients by addressing their financial needs. Our commitment to that high level service has fueled our rapid growth in Colorado and beyond,” managing partner Bendell said in a statement. He added that the team needed to expand and institutionalize the business by either building the infrastructure necessary to support further expansion or joining a successful national firm. And they found the right fit after conducting an extensive search and meeting with Mercer Advisors personnel.
Barton said the team at TWM “have built a high-quality comprehensive wealth management firm with a great reputation driven by their high integrity, deep bench of talent, and their commitment to serving their clients with excellence. TWM stands out in a crowded RIA market. They are exactly the kind of people and business model we seek to partner with, making each of us better and stronger.”
Mercer Advisor CEO Dave Welling added, “TWM is a respected RIA, led by Bruce, Michelle and Gary, highly qualified professionals who are supported by a great team. Their addition boosts our strength in Colorado where we have multiple offices, dozens of advisors, and Denver is home to our national headquarters. We are thrilled they are joining the Mercer Advisors team.”
Mercer Advisors Inc., a parent company of Mercer Global Advisors Inc., is majority owned by both Oak Hill Capital and Genstar Capital. Established in 1985, the firm has more than $50 billion in client assets, along with more than 1,010 employees in more than 80 offices across the country.