Mercer has been one of the largest acquirers of wealth management firms in the North American market.

Denver-headquartered Mercer Global Advisors, a national Registered Investment Advisor (RIA), has acquired MDK Private Wealth Management, continuing its run of M&A transactions. The financial terms of the transaction were not disclosed.

MDK a wealth management firm located in Seattle, Washington, with assets under supervision of over $2.5 billion, serves an ultra-high net worth clientele using a goals-based planning approach, the firm said in a statement.

Founded in 2020 by Paul Meyer, Jaimi Dennehy, and Chris Kalafatis, MDK offers a range of family office services including financial planning, investment management, trust and estate planning, private banking and lending, tax planning, private aviation and boat advisory, and executive planning. 

The latest acquisition continues a run of acquisitions by Mercer. In January, it acquired River Glen Wealth Counselors, a wealth management firm located in West Des Moines, Iowa, and Denver-based Transitions Wealth Management (TWM). See more here and here.

“Jaimi, Paul, and Chris have built an exceptional UHNW practice, they are performing services not easily found or offered. They bolster our family office team and capabilities and, likewise, we add value to their business. We are both complementary and compatible, bedrock for a successful relationship," David Barton, vice chairman, who led the acquisition of MDK on behalf of Mercer Advisors,said.

“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. Their addition also boosts our Pacific Northwest presence and expands our presence in the Seattle area,” Dave Welling, chief executive officer of Mercer Advisors, added.

Park Sutton Advisors, a Waller Helms Company, acted as exclusive financial advisor to MDK Private Wealth Management. MDK’s legal representation was provided by Carney Badley Spellman.

Mercer Advisors, a wealth management and financial planning firm, operates nationally through 80 locations across the country, managing over $56 billion in client assets.