Andesa is located in Allentown, Pennsylvania, serving 260 clients with assets under management of around $330 million. It was founded in 2004 by a team including Paul C Barbehenn, principal, and later joined by Michael C Baittinger, principal, in 2006.

Commenting on the transaction, Barbehenn said: “Andesa anchors on financial planning and is committed to serving our clients at the highest level. To that end, when looking to combine with a new partner, it was essential that they too believe in the value of financial planning and the importance of the client-advisor relationship.”

David Barton, vice chairman, who led the acquisition of Andesa on behalf of Mercer Advisors stated: “Paul and Michael, are highly credentialed planners and have built a very respected business with a deep bench of talent. For Mercer Advisors, the addition of Andesa’s talented team to our service ranks is the most valuable asset of the transaction.”

Dave Welling, chief executive officer of Mercer Advisors, said: “The business combination between Mercer Advisors and Andesa is a perfect cultural fit with both firms anchoring on financial planning. We are thrilled they are joining the Mercer Advisors team and bolstering our significant presence in Pennsylvania and the Eastern region. We look forward to working together to help deliver meaningful results for our shared clients.”

Apart from boosting its presence in the Northeast, Mercer has been busy with a round of acquisitions see here and here.

FWR has recently examined why Mercers is a leading acquirer of RIAs in the North American market.

Established in 1985, Mercer Global Advisors is based in Denver, Colorado. It is privately held, with more than 900 employees, and operates nationally through 90 offices across the country. Mercer Advisors manages over $48 billion in client assets.