The latest deals and transactions in and around North American wealth management.

RIA, Mercer Global Advisors, has acquired wealth management firm Bivin and Associates, in a bid to expand its mid-west presence, adding $575 million of assets under management.

Bivin is a wealth management firm based in Ponca City, Oklahoma, with AUM of approximately $130 million. It was founded in 1994 by Wm. Stan Bivin, CFP®, president. Bivin’s team will all be joining Mercer Advisors.

Earlier this week, Mercer Advisors acquired Fure Financial Corporation and Berkson Asset Management. Click here for details.

Welcoming the move, Bivin (“Stan”) stated: “We are a full-service financial firm committed to helping people pursue their financial goals. We offer financial planning and professional investment management services to individuals and business owners. After talking with David Barton, vice chairman and head of mergers and acquisitions at Mercer Advisors, we knew we found the right partner that shared a high commitment to the highest quality client care. The fact that we could offload onerous back-office services and add new services like in-house estate planning, tax return preparation, and corporate trustee was a huge plus.”

Mercer Global Advisors, founded in 1985, is part of Mercer Advisors. Oak Hill Capital and Genstar Capital own most of Denver-based Mercer Advisors, which oversees about $38 billion of assets. In April, Mercer bought Convergent Wealth Management, a $130 million AuM business based in Chesterfield, Missouri. In May, it merged with HYA Advisors, and related entity Heim, Young & Associates. In January it acquired Wrenn Financial Strategies, a firm located in Raleigh, North Carolina, which serves more than 150 clients with assets under management of about $238 million.