Mercer Advisors has taken over Ray Mignone Associates, a financial planning and investment management services provider, for an undisclosed sum.
The acquisition adds $290m in assets to Mercer’s books, boosting its total assets under management to nearly $11.3bn.
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The deal also increases Mercer’s footprint in New York and Florida by adding offices in Little Neck and Boynton Beach.
The team at Ray Mignone Associates including founder Ray Mignone will join Mercer as part of the deal.
Mercer CEO Dave Welling said: “Ray has built an impressive business and this transaction expands our presence both in New York and South Florida. We welcome their expertise and proven track record.”
Mercer vice chairman David Barton added: “We understand the effort that is required to build lasting relationships and earn the trust of clients so as we partner with new firms like Ray’s our goal is always to maintain that harmony while further building our clients’ financial picture offering a full suite of family office services. As before, Ray and his team will continue to service their clients and we will be there to support them.”
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