Denver-based Mercer Advisors on Tuesday announced the acquisitions of RIAs West Oak Capital, headquartered in Eagle, Idaho, and Eagle Wealth Management and its sister firm Eagle Wealth Accountants, based in Bend, Oregon.
The acquisitions will add a total of about $850 million in assets to the $81 billion in client assets under management (AUM) that Mercer said it had.
The transactions were expected to close Aug. 31, a Mercer spokesperson told WSR.
“Mercer Advisors is an integrator so partners become part of the company and fall under the brand,” the spokesperson said. “We aim to transition partner brands around three to six months after closing.”
West Oak Capital
The addition of West Oak will bring $500 million in AUM that its eight-person team manages for over 100 family clients to Mercer and enable the latter firm to build on its existing presence in Idaho and Southern California, Mercer said.
West Oak has offices in Eagle, an affluent and fast-growing community, and Westlake Village, California. The RIA is “well-positioned to serve” high net worth families across the western U.S., according to Mercer.
“From our earliest conversations, it was clear that we share a deep commitment to fiduciary principles and multigenerational planning,” according to Martine Lellis, Principal, M&A Partner Development at Mercer.
“Their team brings exceptional talent and trusted relationships, and we’re thrilled to combine our strengths to serve our collective clients today and for generations to come,” she said in a news release.
“Joining forces with Mercer Advisors allows us to broaden what we can offer to our clients and their families,” said Byron Snider, Founding Partner and President of West Oak.
He added, “We’ll gain access to additional resources, technology and infrastructure that will elevate our service model while maintaining the personal touch our clients have always valued.”
Eagle Wealth
The addition of Eagle Wealth’s 10-person team will add more than $350 million in AUM to Mercer from 300 clients and strengthen its presence in Bend, which Mercer said is “one of the nation’s fastest-growing cities.”
Eagle Wealth was founded in 2008 by the husband-and-wife team of Chad and Cami Staskal.
“We were seeking a partner who shares our commitment to personalized, long-term financial care,” according to Chad Staskal, Principal and Owner of Eagle Wealth.
“Mercer Advisors aligns with our client-first philosophy and mission,” Staskal said. “With their support on the operational side of the business, we’re excited to devote even more time to helping clients navigate their financial journey with confidence.”
The deals follow Mercer’s announcement in January that it was entering the Bend market by recruiting advisors Dave Stuehling and John Swanson, who would be adding over $200 million in total AUM and help Mercer further expand its presence in the Pacific Northwest.
Stuehling had been overseeing about $114 million in client assets and Swanson had been overseeing $110 million in client assets, Mercer said at the time.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
