Mercer International Advisors, one of many nation’s largest and most acquisitive registered funding advisors with $81 billion in belongings, has acquired two RIA companies, one with a footprint in Idaho and California and a tax-focused agency based mostly in Central Oregon.
West Oak Capital, an Eagle, Idaho-headquartered agency, brings about $500 million in shopper belongings throughout 100 households. The agency has an extra workplace in Westlake Village, Calif. The RIA was based in 2003 by Byron Snider, president of West Oak, and his spouse, Lisa Snider.
“Becoming a member of forces with Mercer Advisors permits us to broaden what we will provide to our shoppers and their households,” mentioned Byron Snider. “We’ll achieve entry to extra assets, expertise and infrastructure that may elevate our service mannequin whereas sustaining the private contact our shoppers have all the time valued.”
West Oak additionally consists of Senior Accomplice Jerry Clebanoff, Senior Vice President Tony G. Somoza, Director of Operations Darin P. White, Portfolio Supervisor Jonathan Howard, and two operations workers.
Mercer additionally introduced its acquisition of Eagle Wealth Administration, a Bend, Ore.-based RIA with $350 million in belongings throughout 300 shoppers. The acquisition additionally consists of Eagle Wealth Accounting, a CPA agency.
The ten-person agency was based in 2008 by husband-and-wife Chad and Cami Staskal. It builds upon Mercer’s presence in Bend, which the agency established earlier this 12 months when it added advisors Dave Stuehling and John Swansonevery with their very own distinct practices.
This follows information final month that Mercer bought Household Wealth Planning Groupa Naples, Fla.-based wealth administration agency with $1.2 billion in shopper belongings. That deal represented Mercer’s third $1 billion-plus transaction in as many months.
Mercer launched its M&A method in 2016, with the acquisitions of Tufton Capital Administration, a $810 million AUM RIA in Hunt Valley, Md., and Lewis Wealth Administration, a Denver-based RIA with about $75 million in AUM. The RIA surpassed 100 acquisitions in Might.
Mercer additionally not too long ago introduced that greater than half (674) of its 1,300 workers are actually fairness homeowners within the RIA. That’s up tenfold from 2018, when there have been fewer than 70 worker shareholders.
Mercer is majority owned by Oak Hill Capital, Genstar Capital, Altas Companions and GIC, a worldwide institutional investor.