Mercer Global Advisors, a national RIA based in Denver, is expanding its presence in Texas with the acquisition of Lake Point Advisory Group, a financial services firm located in the Dallas-Fort Worth area, Mercer announced Wednesday.
Lake Point, which has $700 million in AUM, is led by Reid Johnson. The firm serves mass affluent and high-net-worth individuals and families, as well as businesses, with a team of 19 staff members.
Lake Point, which was founded in 2007, provides direct-to-consumer marketing through social media, educational seminars and virtual events presented by Johnson. The merger will help Lake Point grow and provide additional services for its clients, according to Johnson.
Dave Welling, CEO of Mercer Advisors, said in a statement, “Reid has built an impressive multi-location business and is growing quickly. This is the type of talent we seek to add to our team, and we look forward to offering expanding services to help better serve the current and future Lake Point clients.”
Established in 1985, Mercer Global Advisors provides fee-based investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, insurance solutions, and corporate trustee and trust administration services. It is privately held and has $32 billion in client assets.