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By 
July 10, 2020 at 01:22 PM
(Image: Shutterstock)
RIA Mercer Advisors says it has acquired Denver-based M.J. Smith and Associates, which works with $910 million of assets.
The move follows Mercer’s recent purchase of Beverly Hills-based Argosy Wealth Management, which has $330 million under management. Mercer, which is owned by Oak Hill Capital and Genstar Capital, has about $20 billion in total assets.
It also means Mercer is now working with about $2 billion of client assets in Colorado, according to Mercer Advisors CEO Dave Welling, who says Mercer moved to the Centennial State from California in 2018.
HNW Client Services
M.J. Smith serves 490 households and focuses on high-net-worth clients. Mark Smith, CFP and CPA, launched the firm in 1983; he is joining Mercer along with 11 staff members.
“Despite all of our growth and success, we knew we were at the place of needing to build a robust internal or external succession plan,” according to Smith. “We also understood that reaching true scale would require additional significant expenditure.”
