In case you haven’t noticed, there has been a lot of news coming out of Georgia this week. While the two U.S. Senate races have been top of mind from a national perspective, ever-acquisitive Mercer Global Advisors Inc. today made its second announcement this week that it has bought an Atlanta-based registered investment advisor firm.
The Denver-based RIA said it purchased Atlanta Financial Associates LLC, which was founded in 1992 by Julianne Andrews and Cathy Miller. AFA serves about 570 clients and has assets under management of roughly $815 million. Deal terms weren't disclosed.
As described in the press release announcing the transaction, AFA is a multi-family office that employs proprietary programs to provide wealth management planning and guidance for its clients.
Along with Andrews and Miller, who are two of AFA’s four principal partners, the firm’s other principals are Rick Henderson and Chris Blackmon. They and 15 other AFA staff members joined Mercer Global Advisors Inc. when the acquisition closed on December 31.
In the press release, Mercer Global Advisors CEO Dave Welling said AFA expands the company’s already strong presence in Georgia and the Southeast region. On Tuesday, it announced its purchase of Kays Financial Advisory Corp., an RIA with assets of more than $800 million.
All told, Mercer Global Advisors has 45-plus offices across the country with more than 440 employees and assets under management of nearly $25 billion. Mercer Global Advisors is a privately held entity of Mercer Advisors Inc., which is majority-owned by Oak Hill Capital and Genstar Capital.