Mercer Global Advisors announced two acquisitions Tuesday that will together bring nearly $1 billion to the $70 billion Denver-based firm.
The larger of the two acquired RIAs, Vishria Bird Financial Group, brings to Mercer nearly $600 million in client assets under management and is headquartered in Memphis, Tennessee. The second firm, D. Scott Neal Inc., brings another $300 billion in AUM to Mercer, along with its first presence in Kentucky.
Led by co-founders Harish Vishria and Robert Bird, the Memphis firm specializes in serving U.S. citizens with inheritance and asset ties to India — especially those living in Tennessee, California and Florida. The firm’s business model also integrates estate, tax, insurance and investment strategies to support clients' “comprehensive financial planning experience.”
Mercer "offers the depth of resources, specialized services and operational support to help our clients plan for a secure future,” said Bird, referring to its family office solutions, back-office support and specialized investment resources. “This partnership provides our team with opportunities for growth and development in a rapidly changing industry.”
D. Scott Neal Inc. also provides its clients with comprehensive wealth management services; it is based in the greater Lexington and Louisville areas but has clients in 17 states. It boasts particular expertise in serving health care professionals, entrepreneurs, small-business owners, individuals navigating divorce and retirement clients.
“Mercer Advisors is a firm whose client-first values and fiduciary approach closely align with ours," Neal said. "This partnership allows us to expand our capabilities, provide a more comprehensive wealth management offering and tap into the growth opportunities available in Kentucky.”
Ben Kautz, Mercer Advisors' executive managing director, pointed to the firm’s national growth strategy and commitment to comprehensive planning as drivers of both deals.
“Kentucky represents an attractive, untapped market, and we look forward to expanding our reach while supporting the D. Scott Neal team with the full depth of Mercer Advisors’ resources,” Kautz said.
Regarding the Vishria Bird acquisition, Kautz cited Mercer Advisors’ prior commitment to expanding its presence in Tennessee, which he called “a key growth market.”
“We are excited to continue to build on our momentum in Tennessee, working with the talented team at Vishria Bird to serve their clients and support their next phase of growth,” he said.
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