M and A
Deals Of The Day: The Latest In Wealth Management M&A – Mercer, HYA Advisors
The latest deals and transactions in and around North American wealth management.
Mercer, HYA Advisors
Mercer
Global Advisors, the US RIA that has bought a number of US
wealth businesses in recent years, yesterday announced that it
has merged with HYA Advisors, and related entity Heim, Young &
Associates.
HYA Advisors, based in Springfield, Missouri, serves about 1,000 clients with assets under management and advisement of around $1.2 billion. HYA was founded in 1991 by Dennis Heim, partner/principal and Dean Young, also partner/principal.
The firm is led by Brent Singleton, partner/principal, Mike Sharp, partner/principal, Jeff Bilberry partner/principal and Holly M Gray, a partner.
Mercer Global Advisors, founded in 1985, has a parent company – Mercer Advisors – that is majority-owned by Oak Hill Capital and Genstar Capital, with more than $38 billion of client money. Mercer Advisors, a privately held firm, has its headquarters in Denver.
The business has made a number of acquisitions. For example, in April it bought Convergent Wealth Management, a $130 million AuM business based in Chesterfield, Missouri. In January it acquired Wrenn Financial Strategies, a firm located in Raleigh, North Carolina. Wrenn serves more than 150 clients with assets under management of about $238 million.
