Mercer Nabs $2.5B UHNW Group
MDK Private Wealth provides services like private banking, aviation and boat advisory work, as well as executive planning.
The RIA Mercer Global Advisors says it is acquiring MDK Private Wealth Management, a firm based in Seattle that works with ultra-high-net-worth clients with some $2.5 billion of assets under supervision.
“One of the fastest-growing areas of our business is our tailored services for ultra-high-net-worth clients and we are excited to add the MDK team to further bolster our expertise and capabilities in that area,” said Dave Welling, CEO of Mercer Advisors, the parent company of Mercer Global Advisors.
MDK provides its clients with family office services such as investment management, trust and estate planning, private banking and lending, tax planning, private aviation, boat advisory and executive planning. Its leaders recently “wanted to build out our scale creating a platform for institutional and ongoing care,” co-founder Chris Kalafatis said in a statement.
“We were faced with the decision of whether to build this platform or determine if one existed that was aligned with our vision of what a national family office offering could be,” co-founder Jaimi Dennehy said in a news release. “After an exhaustive search, we chose to partner with Mercer Advisors.”
Mercer Global Advisors is headquartered in Denver and manages over $56 billion in client assets. It is majority owned by Oak Hill Capital, Genstar Capital and Altas Partners.
See: RIA Model Is at the ‘Tipping Point:’ Dave Welling
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