Mercer Global Advisors, a US registered investment advisor (RIA), has acquired American wealth management firm Arbor Asset Management.
Image: Mercer Global Advisors has acquired US firm Arbor Asset Management. Photo: courtesy of rawpixel / Unsplash.
Based in Ann Arbor of Michigan, Arbor serves households across the mid-west with assets under management (AUM) of around $350m.
The addition of Arbor’s office in Ann Arbor is said to expand Mercer Advisors locations in Michigan to three offices. It already manages offices in Detroit and Traverse City.
Mercer also operates offices in Chicago of Illinois, Onalaska of Wisconsin, Columbus of Ohio and Omaha of Nebraska.
The acquired business allows to expand Mercer Advisors’ total offices to 39, in addition to increasing AUM to around $15bn.
Paolella said: “The criteria I had in seeking a partner was, first, we needed to share core values regarding clients and people.
“Second, I wanted to offload back office responsibilities and needed to know they would be managed at the highest level. Third, it was important to me that my team had career path opportunities with our new partner.”
In 1996, Neil Paolella established Arbor to provide wealth management services to his clientele. As per terms of the deal, Neil and his four team members will join Mercer Advisors.
Arbor’s products and services comprise of retirement, investment management, tax planning and health education.
Arbor evaluates individual’s finances to develop a plan to meet income needs in retirement. For better asset management, Arbor uses asset allocation to structure a portfolio that is based on individual’s needs, risk tolerance time horizons and goals.
Mercer Advisors CEO Dave Welling said: “Arbor Asset Management, LLC is an established and highly respected firm—a very attractive business in a dynamic and growing market.
“Arbor shares our commitment to excellence and high professional acumen, matched by equally high integrity, resulting in superior client satisfaction.”
Founded in 1985, Mercer Advisors is a wealth management firm that offers comprehensive, fee-only investment management, financial planning and family office services.
Based in Denver, the company also provides retirement benefits and distribution planning, estate and tax planning, asset protection expertise, and corporate trustee and trust administration services.