RIA aggregator Mercer Global Advisors has acquired Wisconsin-based A. Farah Investments, which does business as AFI Wealth Strategies, for an undisclosed amount.
The acquired wealth manager provides boutique wealth strategy services, managing and planning to HNW individuals, families, and their businesses.
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By GlobalDataFounded by Andrew Farah, the firm manages $240m in assets on behalf of its approximately 220 clients.
Under the agreement, AFI team will join Mercer which expands its central US reach with this deal.
Commenting on the transaction, Farah said: “Partnering with Mercer Advisors had appeal for me because they take over the onerous back-office and human resources responsibilities, and offer in-house family office services like estate planning, tax, etc., that my clients can utilise. For me it was a win, and for my clients it was a win, a true ‘win-win’.”
Mercer Advisors CEO Dave Welling added: “Andy has assembled a strong team and is highly respected in the industry. His involvement and contributions to his community and local philanthropic organisations demonstrates his strong character.
“This is the type of talent we seek to add to our team. We are excited to partner with the AFI team and look forward to serving their clients with expanded wealth management services for years to come.”
Recent deals by Mercer
Headquartered in Denver, Mercer Advisors specialises in providing investment advice, financial and estate planning, and taxes, and corporate trustee and trust administration services.
Last month, the company expanded its reach to Mississippi with the acquisition of Starkville-based wealth management firm ET George Investment Management.
It also purchased Washington-based wealth management firm Hart Capital Management and Virginia-based Pinnacle Wealth Solutions this year.
Last year, Mercer acquired a number of companies, including Personal Financial Advisors, Summit Wealth Advisors, ClearRock Capital and M.J. Smith and Associates.
