Mercer Global Advisors, a Colorado-based RIA consolidator, has acquired New Mexico-based peer Sage Future Financial.
The transaction, whose value was not disclosed, marks Mercer’s foray into New Mexico.
Sage tends to nearly 45 HNW households and manages around $100m in assets. The business was set up by Donna Skeels Cygan, who will now move to Mercer.
Commenting on the deal, Cygan said: “Mercer Advisors’ Family Office business model with in-house estate planning lawyers, tax return professionals and corporate trustee services is a great value add and complements my philosophy of holistically serving all my clients’ financial needs.”
Mercer already has four locations in the Southwest, including one location in Arizona and three in Texas. With this acquisition, Mercer has a total of 44 offices and a total AUM of more than $16.5bn.
Mercer CEO Dave Welling said: “Donna is a great addition to the team. With the successful business she has built, we are now able to partner with her to grow our collective presence throughout New Mexico, a very desirable market.”
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By GlobalDataFounded in 1985, Mercer currently employs over 370 people.
The latest deal continues the firm’s recent buying spree.
This year, Mercer also acquired Physicians Financial Advisors, Jackson Financial Management and Confluence Financial Advisors.
