Mercer Global Advisors has announced the acquisition of Family Wealth Planning Group, a former Raymond James advisor team overseeing $1.2 billion in assets for more than 200 families out of Naples, Florida.
The transaction marks Mercer’s third billion-dollar deal in the last three months, according to the announcement, expanding its financial planning capabilities and executive-focused services in an growing market. Other recent notable acquisitions include Full Sail Capital in Oklahoma, Tufton Capital Management in Washington, D.C, and O’Brien Wealth Partners in Massachusetts.
Mercer Advisors CEO Dave Welling cited Family Wealth’s passion for serving clients and dedication to multigenerational wealth management as key drivers of the latest acquisition.
“We are excited to join the Family Wealth team in serving more clients in Southern Florida,” Welling said in a statement. “Their dedication to personalized, multigenerational wealth management also aligns with evolving client needs that we see across the country and prominently in Florida.”
The nine-person Family Wealth team specializes in serving high-net-worth families, business owners and executives. They focus on wealth planning, investment management, estate and tax planning, and next-generation education. All nine team members are joining Mercer Advisors, according to the announcement.
Tom LaMacchio, principal and founder of Family Wealth, said partnering with Mercer Advisors will enable the team to improve efficiency and enhance how it serves clients. Nadia Keric, principal and owner at Family Wealth, added that Mercer Advisors’ tax and estate planning resources will be of particular importance.
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