Mercer Global Advisors, a subsidiary of Mercer Advisors, on Tuesday announced the acquisitions of RIAs D. Scott Neal (DSN) with offices in Lexington and Louisville, Kentucky, and Vishria Bird Financial Group in Memphis, Tennessee.
The acquisitions will add a total of almost $900 million in assets to the $71 billion in client assets that Mercer said it had as of Jan. 31.
The addition of DSN and its 10-person team will bring more than $300 million in assets under management (AUM) to Denver-based Mercer and enable it to enter the Kentucky market, Mercer said.
DSN is a financial planning and investment management firm that specializes in “guiding families through transitional periods in life,” Mercer said. Its clients include healthcare professionals, entrepreneurs, small business owners, individuals navigating divorce, and families needing help with retirement, elder planning and higher education planning.
The Kentucky RIA has served the Lexington and Louisville areas for more than 30 years and now has clients in 17 states, Mercer said.
DSN is led by Scott Neal, its President and CEO; Jerome Zimmerer, Vice President and Chief Compliance Officer; and Richard Coles, Senior Advisor.
“Mercer Advisors is a firm whose client-first values and fiduciary approach closely align with ours,” Neal said in a news release. “This partnership allows us to expand our capabilities, provide a more comprehensive wealth management offering and tap into the growth opportunities available in Kentucky.”
Neal added, “With Mercer Advisors, we can continue to help our clients, many of whom we’ve served across multiple generations, navigate financial decisions with confidence and build a forward-thinking roadmap to reach their goals.”
DSN will gain access to Mercer’s investment management, estate and tax planning and Next Gen growth resources, Mercer said.
“D. Scott Neal has built a trusted firm with deep, long-term client relationships in Kentucky,” said Martine Lellis, Principal, M&A Partner Development at Mercer Advisors.
“The team’s dedication to providing personalized, comprehensive advice aligns with our mission to help clients secure their financial futures,” according to Lellis. “We are proud to partner with the team at D. Scott Neal to strengthen their presence in this important market.”
Noting that DSN is Mercer’s first partner firm in Kentucky, Ben Kautz, Executive Managing Director at Mercer Advisors, said: “Kentucky represents an attractive, untapped market and we look forward to expanding our reach while supporting the D. Scott Neal team with the full depth of Mercer Advisors’ resources.”
Vishria Bird
The acquisition of Vishria Bird adds $583 million in client assets and further expands Mercer’s footprint in Tennessee. Mercer has existing offices in the Nashville area.
Vishria Bird is led by Co-Founders Harish Vishria and Robert (Bobby) Bird. The firm specializes in serving U.S. citizens with inheritance and asset ties to India, and established a significant client base in Tennessee, along with California and Florida, Mercer noted.
“Partnering with Mercer Advisors allows us to expand the depth of our services, giving our clients access to more resources while preserving the deeply personal relationships we’ve built over the years,” said Vishria.
“Harish and Bobby have built a firm centered on trust, long-term relationships and a commitment to putting their clients first—values that align perfectly with Mercer Advisors’ fiduciary approach,” said Lellis.
The acquisition will give Vishria Bird access to Mercer’s family office solutions, back-office support and investment resources, according to the news release. “This strategic alignment aims to help the firm scale its offerings and support the growth of its next-generation advisors and client support staff.”
The acquisition reflects Mercer’s “commitment to expanding its presence in Tennessee, a key growth market,” according to Kautz.
Houlihan Lokey acted as the exclusive financial advisor to DSN and Vishria Bird in each transaction, Mercer said.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
