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Deals Of The Day: The Latest In Wealth Management M&A – Mercer, Mallard Financial Partners

Editorial Staff

7 July 2023

Mercer Global Advisors wrapped up another M&A deal yesterday, following an earlier transaction this week, by announcing that it has acquired a $180 million firm in Delaware.

The acquired business, founded in 1996 by Paul Baumbach, is Mallard Financial Partners, based in Newark, Delaware. Baumbach co-manages the firm, which has more than 200 clients, with Joe Daigle. 

Thw terms of the transaction weren’t disclosed in Mercer’s statement yesterday. 

Denver-headquartered Mercer Global Advisors, part of Mercer Advisors, has chalked up a number of deals so far in 2023. For example, this week it acquired Macon, Georgia-based firm Day & Ennis, which oversees about $400 million in client money.

Mercer Advisors, parent of Mercer Global Advisors, is majority owned by Oak Hill Capital and Genstar Capital. Mercer Advisors manages $48 billion in client assets.