Ever-acquisitive Mercer Global Advisors Inc. has continued its buying spree with the purchase of registered investment advisor Regent Wealth Management Group Inc., the company announced today.
Regent is a fee-only wealth management firm in Woodbridge, Conn., serving about 110 high-net-worth households with assets under management of roughly $300 million. The company was founded by Alan Weiss in 1987.
Denver-based Mercer Advisors has bought six advisory firms year to date, which follows the eight acquisitions it made last year. The RIA now has 43 branch offices across the U.S.
Mercer Advisors’ prior two purchases this summer were California firms: Jackson Financial Management and Physicians Financial Advisors. In turning eastward to the Nutmeg State where it has existing offices in Hartford and Fairfield, the company's acquisition of Regent gives it 11 branch offices in the Northeast with about $2.7 billion in assets.
All told, Mercer Advisors has more than $16.5 billion in assets under management nationwide.