Mercer Global Advisors bought women-owned Starks Financial Group in Ashville, N.C., adding $250 million in assets under management to Mercer’s $38 billion, the firm announced.
Certified financial planner Dawn Starks founded her group in 1999 as an independent practice with Raymond James as its broker-dealer, according to the Starks Financial website. The current advisor roster includes her partner and vice president Jennifer Adams, David Werle and Kathryn Beach, all CFPs as well, and the firm encourages its clients to think along lines of sustainable and responsible investing, the website says.
According to a joint statement by Starks and Mercer, Starks was attracted to Mercer’s family office and back-office support, even as she and Adams were looking for their own solution to a common advisory issue.
“We were also at that age and stage of needing to put together a succession plan for our practice to help ensure uninterrupted care for our clients should something unforeseen happen to either of us. We learned of Mercer Advisors as a potential acquiring partner because several of our peers had been acquired by them,” Starks wrote in the statement. “What really impressed us was their investment and attention to many women’s advancement initiatives, including their “InvestHers” platform supporting women’s groups across the organization and beyond. The cultural fit between our firms could not be higher.”
Headquartered in Denver, Mercer has over 670 employees, and operates nationally through 60+ offices across the country.