Mercer Advisors Continues RIA Expansion with Acquisition of $330M Andesa

Mercer Global Advisors, Inc., a rapidly growing buyer of registered investment advisors (RIAs) has acquired Andesa Financial Management, Inc., an Allentown, PA-based wealth management firm with approximately $330 million in assets.

Financial terms of the deal were not made available.

Founded in 2004 by Paul C. Barbehenn, Principal, and later joined by Michael C. Baittinger, Andesa serves 260 clients from individuals and families to nonprofit organizations.

“Paul and Michael are highly credentialed planners and have built a very respected business with a deep bench of talent. For Mercer Advisors, the addition of Andesa’s talented team to our service ranks is the most valuable asset of the transaction,” said David Barton, Vice Chairman of Mercer Advisors.

Denver-based Mercer Advisors, which manages more than $48 billion in client assets, is among the fastest growing RIAs in the country. Most investments by private equity firms Oak Hill Capital and Genstar Capital have allowed the firm to significantly ramp up its M&A activity in recent years.

Since 2016, it has acquired more than 75 firms. Its most recent deal was the acquisition of Roseville, CA-based Empyrion Wealth Management, a $250 million RIA, in January.

“The business combination between Mercer Advisors and Andesa is a perfect cultural fit with both firms anchoring on financial planning. We are thrilled they are joining the Mercer Advisors team and bolstering our significant presence in Pennsylvania and the Eastern region,” added Dave Welling, Chief Executive Officer of Mercer Advisors.