Mercer Advisors on Tuesday announced the acquisition of O’Brien Wealth Partners, a Waltham, Massachusetts-based firm that Mercer said manages about $1.1 billion in client assets and widens its footprint in the Greater Boston area.
The purchase adds a next-generation advisor team that Mercer said is aligned with its “planning-centric, client-first philosophy.”
“O’Brien will be integrated into Mercer Advisors and will take on its brand,” a Mercer spokesperson told WSR.
The spokesperson added, “This partnership will strengthen what the O’Brien team has built. By joining Mercer Advisors, O’Brien gains deeper insights into the expanded resources and capabilities Mercer Advisors offers, from estate planning and tax strategy to corporate trustee services and advanced investment management. It’s a win for both teams and, most importantly, their clients.”
In a press release, Dave Welling, CEO of Mercer Advisors, said, “Our conversations with the O’Brien team highlighted that we share a common foundation of acting in our clients’ best interest and in the belief that teamwork and culture are the key ingredients to success.”
He added that the O’Brien team has “created a strong culture of mentorship, inclusion and excellence that reflects where the industry is headed.”
O’Brien, founded in 1986, provides wealth management and planning services to more than 500 individuals investors and families throughout New England and beyond, as well as nonprofit organizations, according to Mercer.
O’Brien is mainly woman-owned and led, with a “diverse, cross-generational team” that includes Jill Fopiano, its CEO and President, Mercer pointed out.
“We were looking for a partner who could honor the care and continuity we’ve provided clients for decades, while advancing our vision for thoughtful, intentional growth,” said Jill Fopiano, CEO and President at O’Brien.
She added, “Mercer Advisors brings deep planning expertise, institutional-level capabilities and a genuine respect for how we serve. Just as importantly, they understand the power of diverse leadership and a collaborative culture, making this a natural next chapter for our team and the families we support.”
By joining Mercer, the O’Brien team and their clients get access to integrated family office services, including estate planning, tax strategy and preparation, corporate trustee services and investment management, Mercer said.
The partnership between Mercer and the incoming O’Brien team will also provide additional resources to support career development for team members and “strengthen the firm’s long-term growth trajectory in New England,” it said.
“The O’Brien team exemplifies the kind of talent and leadership we seek in a partner—rooted in decades of client trust and energized by a forward-thinking approach to financial planning,” according to Martine Lellis, Principal, M&A Partner Development at Mercer.
“This partnership not only deepens our roots in Boston but also supports our broader efforts to deliver personalized, planning-led advice that evolves with our clients’ lives,” she said.
Ben Kautz, Executive Managing Director at Mercer, said: “O’Brien Wealth brings a distinctive, high-touch model and a forward-thinking team that aligns well with our service philosophy. By joining forces, we can equip them with additional resources—from integrated technology to family office services—that support sustainable growth and deepen client impact in a competitive market like Greater Boston.”
Colchester Partners was the exclusive financial advisor to O’Brien for the deal, Mercer said.
Mercer has a total of $72 billion in client assets, it said Tuesday.
The acquisition of O’Brien is Mercer’s 104th since it started its M&A strategy in 2016, the Mercer spokesperson told WSR.
In May, Mercer announced that it surpassed 100 M&A partner deals with the acquisitions of RIAs Tufton Capital Management in Hunt Valley, Maryland, and Lewis Wealth Management in Denver.
The Mercer spokesperson told WSR, “So far in 2025, Mercer Advisors has completed eight acquisitions, bringing more than $5 billion in client assets. In 2024, the firm completed a total of 11 acquisitions.”
Looking ahead, the spokesperson told WSR, “Mercer Advisors continues to scale with purpose, focused on long-term value creations for both clients and advisors. Our employee-owned culture and family office platform across tax, estate and investment management remain key drivers of our M&A strategy, attracting like-minded firms. Mercer Advisors’ pipeline remains strong through the end of the year.”
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
