Expanding Mercer Advisors’ California Presence
DENVER, Aug. 1, 2023 /PRNewswire/ — Mercer Global Advisors, Inc. (“Mercer Advisors”), a national Registered Investment Adviser (RIA), today announced the acquisition of Private Asset Management, Inc. (hereinafter “PAM”). PAM is a comprehensive wealth management firm headquartered in San Diego, California. PAM was founded in 1993 and is currently led by CEO Jeffrey S. Witt, CFA, CFP®, CIPM®, together with a powerful and talented team of professionals. PAM serves over 600 clients with assets under management (“AUM”) of approximately $720 million.
PAM provides multi-generational wealth services to its clients including financial planning, investment management, tax planning and preparation. “Our ultimate goal is to give you (our clients) confidence, relieving you of the burden of managing your own financial future while striving to provide best-in-class customer service.”
PAM CEO Jeffrey S. Witt stated: “PAM provides manifold services to its high net worth, and ultra-high net worth clients seeking to provide best-of-breed service to individuals and families including those with multigeneration wealth needs. To that end, when looking to combine with a new partner, it was essential that they too believe in providing their clientele with an enhanced service offering, not limited to just financial planning and investment management. Once we began talks with Mercer Advisors and David Barton, Vice Chairman who heads up M&A for Mercer Advisors, we knew we had found the right partner with Mercer Advisors offering a full set of family office services under their large roof.”
David Barton, Vice Chairman, who led the acquisition of PAM on behalf of Mercer Advisors stated: “Jeff and his team are highly credentialed planners and professionals with a deep bench of talent. Since we are in a service industry and you are only as good as your people, the addition of PAM’s impressive team to our service ranks bolsters our capabilities in California and beyond.”
Dave Welling, Chief Executive Officer of Mercer Advisors, said, “The business combination between Mercer Advisors and PAM is a perfect cultural fit. We share the same mission, vision, and values of always putting clients’ interests first. We are thrilled they are joining the Mercer Advisors’ team and look forward to working together to help deliver meaningful results for our shared clients.”
ECHELON Partners acted as the exclusive financial advisor, and Withers Bergman LLP, served as legal counsel to Private Asset Management.
About Mercer Advisors
Established in 1985, Mercer Global Advisors Inc. (“Mercer Advisors”) is a total wealth management firm that provides comprehensive, 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. Mercer Advisors Inc. is a parent company of Mercer Global Advisors Inc. (RIA), majority owned by both Oak Hill Capital and Genstar Capital, one of the largest Registered Investment Advisors and financial planning firms in the U.S. with over $48 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 900 employees, and operates nationally through 70+ offices across the country. For more information, visit www.merceradvisors.com.
Company statistics as of June 2023. AUM data refers to client assets under management (AUM) and client assets under advisement (AUA) by both Mercer Global Advisors Inc. and Regis Management Company. Regis Management Company is a tradename used by Regis Acquisition, Inc. Mercer Global Advisors Inc. and Regis Acquisition, Inc. are affiliated SEC registered investment advisers and deliver investment advisory and family office related services. Mercer Global Advisors Inc. and Regis Acquisition, Inc., are subsidiaries of Mercer Advisors Inc., a parent company not involved with investment services.
Mercer Advisors is not a law firm and does not provide legal advice to clients. All estate planning documentation preparation and other legal advice is provided through its Advanced Services Law Group, Inc. Tax preparation and tax filing are a separate fee from Mercer Advisors’ investment management and planning services. Trustee services are offered through select third parties with which a client would engage directly. Mercer Global Advisors has a related insurance agency. Mercer Advisors Insurance Services, LLC (MAIS) is a wholly owned subsidiary of Mercer Advisors Inc. Employees of Mercer Global Advisors serve as officers of MAIS. MAIS provides individual life, disability, long term care coverage, and property and casualty coverage through various insurance companies.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
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SOURCE Mercer Global Advisors Inc.