Mercer Global Advisors Inc., a national registered investment adviser with $63 billion in client assets, announced the acquisition of two East Coast-based RIAs with approximately $963 million in assets under management between them.
Mercer acquired Kiely Wealth Advisory Group, or KWAG, of North Carolina, a firm with $523 million in assets under management. According to Mercer, KWAG serves individuals and organizations, helping them plan for a secure financial future. The firm’s management team has worked together for more than 20 years and serves over 530 clients, including individuals and organizations.
“For more than 25 years, we’ve focused on serving clients as a fiduciary, with financial planning at the center of our service model. We were intrigued that Mercer advisers shares our values and would help us scale,” said Joe Kiely, PhD, president, chief executive officer, and founder of KWAG.
“With the union of our firms, the clients of KWAG will gain access to our suite of wealth solutions, including estate, tax, and insurance planning. Together, we will enhance the financial well-being of our shared clients,” said Dave Welling, CEO of Mercer. “We are excited to welcome this experienced team as we continue to grow our presence in North Carolina.”
In addition to KWAG, Mercer also reported that it acquired Kades & Cheifetz, a suburban Philadelphia-based RIA that manages approximately $440 million in assets. According to a January filing with the U.S. Securities and Exchange Commission, the company was previously owned by Howard Kades and Stephen Cheifetz. The firm also reported to the SEC that it serves more than 230 individual clients. As stated on the group’s website, the firm offers combined experience of more than 50 years and takes pride in their long-term client relationships, helping individuals and families to grow and manage their wealth in order to achieve their financial objectives.
Cambridge International Partners served as the exclusive financial adviser to Kiely Wealth Advisory Group. Kades & Cheifetz was advised by Colchester Partners.
Previously reported by The DI Wire, Mercer acquired Regis Management Company LLC, a wealth management firm with $5 billion in client AUM in December 2022 and Goldstein Munger + Associates Inc. in October 2022.
Established in 1985, Mercer Global Advisors Inc. is a total wealth management and financial planning 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. Headquartered in Denver, Mercer Global Advisors is privately held, has more than 1,150 employees, and operates nationally through more than 90 locations with $63 billion in client assets.
Click here to visit The DI Wire directory page.
Read the full article here
