Mercer Global Advisors, a subsidiary of Mercer Advisors, on Tuesday announced the acquisitions of RIAs Chapel & Collins in Fort Collins, Colorado, and Waypoint Capital Advisors in Minneapolis.
Both deals closed in late October, a Mercer Advisors spokesperson told WSR.
“Both Waypoint and Chapel & Collins will be taking on the Mercer Advisors brand,” the spokesperson said.
Chapel & Collins managed about $675 million in assets for over 500 individuals and high net worth families, Mercer said. The RIA advised on corporate retirement plans and provided institutional consulting services.
The addition of Chapel & Collins to Mercer boosted the firm’s assets under management (AUM) in Colorado to almost $5 billion, with more than 150 employees in the Denver area, it said. Mercer relocated its headquarters to Denver in 2017, and now serves over 2,200 families in the Denver area.
Waypoint managed almost $1 billion in client assets for ultra-high net worth individuals and families.
Founded in 2015, Waypoint will leverage Mercer specialists and capabilities for it services to UHNW clients and multigenerational families.
Chapel & Collins has a seven-person team led by Founding Partner, Dennis Collins.
The deal will enable the team to provide an enhanced, more personalized client experience, according to a news release.
“By leveraging Mercer Advisors’ tremendous scale and resources, we can devote more time and attention to helping our clients navigate their unique challenges and opportunities,” said Collins.
“Families with multigenerational wealth are often confronted with complex financial lives that require a more nuanced, thoughtful approach. Partnering with a leading national fiduciary firm like Mercer Advisors helps empower our team of advisors to strengthen existing client relationships and develop new ones.”
“Chapel & Collins is a shining example of a firm that shares our client-first philosophy, with financial planning at the center of every relationship,” said Martine Lellis, Principal, M&A Partner Development at Mercer Advisors.
“The highly experienced team is well-positioned to continue growing its client base, and we look forward to supporting them every step of the way.”
“Growing our footprint in Greater Denver and Fort Collins helps us deepen our roots in one of our key markets,” said Dave Welling, Mercer CEO.
“By extending our integrated wealth management experience to more families in the Denver area, we’re able to help amplify and simplify their financial lives,” he added. “In doing so, we can make a meaningful impact on these vibrant local communities.”
Jon Kennedy, CEO and Managing Partner at Waypoint, said: “Partnering with Mercer Advisors for our next phase of growth was the clear choice. We have the shared vision of providing clients with personalized fiduciary financial advice that not only helps them execute their financial plans, but also fulfills their life plans.”
Kennedy added: “Mercer Advisors will be a long-term home for our 12 professionals, who are excited to access the full-service wealth management services, resources, and capabilities of a high caliber RIA.”
Mercer was “very impressed with the strength of Waypoint’s client base and track record of growth,” Lellis said. “The like-minded approach to family office services was immediately apparent and will add depth to our existing offering.”
According to a news release, “The acquisition of Waypoint bolsters Mercer Advisors’ UHNW practices that specialize in serving families with generational wealth who require comprehensive family office services, including access to differentiated private investments, dedicated tax, estate, and investment strategists and more.”
Welling added: “Waypoint is a terrific complement to Mercer Advisors and will deepen the depth and breadth of our teams focused on serving multi-family offices and ultra-high-net-worth families. They have built a team with deep expertise managing, coordinating and solving the unique needs of generationally wealthy families. Importantly, they do so in a way that aligns the firm to act in the best interest of their clients.”
Mercer Advisors, with $66 billion in client assets, is majority owned by Oak Hill Capital, Genstar Capital and Altas Partners.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.
