Mercer Advisors has acquired Beach Freeman Lim & Cleland, a Southern California-based tax firm providing tax, accounting and business advisory services to high-net-worth individuals, families and business owners.
The deal is Mercer’s first tax practice acquisition, according to the announcement. It mirrors moves made by other wealth management firms interested in deepening their in-house tax expertise.
Jeremiah Barlow, chief solutions officer of Mercer Advisors, said the acquisition reinforces the firm’s commitment to deliver “comprehensive, integrated family office services” including financial planning, tax planning and preparation, estate planning and investment management.
“This partnership reflects our strategic focus on tax as a cornerstone of our family office set of services,” Barlow said in a statement. “Kendrick Mercer, who founded our firm 40 years ago, was himself a tax and estate attorney. … We are thrilled to add the BFLC team to deliver a local family office experience in Southern California communities that we serve.”
The acquisition brings 20 tax professionals to Mercer, with specialties across a range of industries and professions including health care, real estate, law firms, construction, professional athletes and franchise businesses. All members of the BFLC team will join Mercer Advisors, with equity ownership opportunities available to full-time employees.
The firm operates from offices in El Segundo, Irvine and Ontario, providing coverage across the Los Angeles, Orange County and Inland Empire regions.
Doug Beach, managing partner at BFLC, said that partnering with Mercer allows the organization to build on its legacy of client service while expanding its capabilities and solution set.
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