Mercer Advisors Strengthens New England Presence with Charter Oak Acquisition

Introduction

In a significant move to expand its geographical footprint, Mercer Advisors has announced the acquisition of Charter Oak Capital Management, a well-established independent registered investment advisor (RIA) based in Glastonbury, Connecticut. This transaction not only enhances Mercer Advisors' presence in New England but also signifies its ongoing strategy of growth through strategic acquisitions in the wealth management sector.

Deal Summary

Mercer Advisors, a national RIA and wealth management firm, has successfully acquired Charter Oak Capital Management. Founded by co-CEOs Thomas W. Bock and Mark E. Hennessey, Charter Oak specializes in providing tailored financial advice, including investment management, retirement, estate planning, and tax strategies to high-net-worth individuals and families.

Under this acquisition, Bock and Hennessey will assume the role of Managing Directors at Mercer Advisors, thus ensuring continuity and the integration of Charter Oak's client-focused services with Mercer’s extensive resources. Dave Welling, CEO of Mercer Advisors, expressed enthusiasm about the acquisition, highlighting the potential for enhanced service delivery and growth opportunities for both firms.

This strategic acquisition strengthens Mercer Advisors’ operations across 25 states and contributes to its management portfolio of approximately $32 billion in assets, further solidifying its position in the competitive wealth management landscape.

Buyer Profile

Founded in 1985 and headquartered in Denver, Colorado, Mercer Advisors is a prominent national RIA dedicated to providing comprehensive financial planning and wealth management services. The firm prides itself on delivering personalized solutions that cater to the unique financial goals of its clients, particularly high-net-worth individuals and families.

In addition to the Charter Oak acquisition, Mercer Advisors has been active in the M&A space, recently completing several transactions that showcase its growth strategy. Notable deals include:

• Acquisition of an independent RIA in California, enhancing its service offerings in the West Coast market.
• Acquisition of a wealth management firm in Florida, aimed at expanding its presence in the Southeast region.
• Integration of a boutique investment advisory firm in Texas, further diversifying its service capabilities.

These recent transactions reflect Mercer Advisors' commitment to growth through strategic partnerships and its focus on delivering value-added services to its expanding client base.

Conclusion

The acquisition of Charter Oak Capital Management is a strategic step for Mercer Advisors as it seeks to enhance its service offerings in New England. This move underscores the firm’s commitment to growth and excellence in wealth management, providing key insights for investors and industry stakeholders about the ongoing consolidation trends within the RIA space.