The latest wealth management transactions in North America.
Mercer Global Advisors has acquired Marrs Wealth Management, a firm in Ames, Iowa. Marrs serves about 275 clients with assets under management of approximately $215 million.
Marrs was founded in 2010 by Craig Marrs, and serves high net worth clients. The firm has three LLC members: Marrs, Andra L Reason, and Nathan Brammer. In all, four Marrs team members will join Mercer. The transaction closed December 31, 2020.
Denver, Colorado-based Mercer has bought a raft of wealth management firms in recent months. This week Mercer Global Advisors bought Hart Capital Management, a firm based in the northwest and Idaho, overseeing about $440 million of client money. It has also bought Pinnacle Wealth Solutions, a firm based in Midlothian, Virginia. Earlier in January it bought a woman-owned wealth management business – McGee Wealth Management, based in Portland, Oregon ($815 AuM). Also in January, it bought Atlanta Financial Associates, a firm overseeing about $815 million of client money.
Carson Wealth is teaming up with Strategic Wealth Partners, marking Carson’s first office in Pennsylvania.
Strategic Wealth Partners was founded in 2006 by Karl V Kimball and Michael G Edwards, with $200 million in assets under management. The firm serves clients in Doylestown, the Philadelphia metro area and across the US. Clients are mainly mid- to late-career executives and professionals.
Carson serves more than 35,000 families in the US.