Mercer acquires $554 million RIA

Mercer Global Advisors announced Wednesday the acquisition of ClearRock Capital, an RIA that manages approximately $554 million in client assets, according to the firm’s latest Form ADV.

ClearRock Capital’s co-founders Mark Eshman and Jamie Everitt will be joining Mercer along with their eight-person team, while maintaining their home office in Sun Valley, Idaho and locations in San Francisco. 

The objective behind the acquisition is to provide a broader wealth management platform for clients, Eshman said in a company statement. “As clients’ financial lives have become more complex with changes in technology, taxes, estate planning, and regulations happening with increasing speed, we felt it was time,” he said.

Joining Mercer was a business continuity strategy for ClearRock Capital to partner with a large-scale firm that “takes over time consuming middle and back office work that robbed us of needed capacity,” Eshman said. “This was not going to be a cookie cutter transaction for the successful buyer. We needed a sophisticated partner that appreciated all our nuances and had the expertise to successfully close this transaction with all its complexities.”

The news comes on the heels of Mercer’s acquisition of Argosy Wealth Management, a Los Angeles-based RIA managing approximately $330 million, the firm announced Tuesday. 

Denver-based Mercer Global Advisors manages approximately $19.2 billion in client assets with over 400 employees and more than 45 offices, according to a press release.

The post Mercer acquires $554 million RIA appeared first on InvestmentNews.

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