Mercer Advisors Buys $495M Florida Wealth Manager 

Mercer Global Advisors, Inc., a registered investment advisor that is majority-owned by private equity firms Oak Hill Capital and Genstar Capital, has acquired Paragon Wealth Strategies, LLC, a $495 million Jacksonville, FL-based wealth management firm. 

Financial terms of the deal were not disclosed.  

The firm was founded by managing partners Jonathan Castle and Michelle Ash in 2008. Scott Snider and Ian Aquilar later joined the firm, which serves more than 400 clients. 

“Paragon is an excellent fit for our culture and growth plans for Florida. Jon, Michelle, Scott and Ian are high-integrity professionals with a fantastic team supporting them. We are thrilled they are joining Mercer Advisors and look forward to working together to deliver meaningful results for our shared clients,” said Dave Welling, CEO of Mercer Advisors. 

Mercer Advisors has made four acquisitions, including the Paragon deal, over the past four months. In November, the firm struck a deal with Denver-based Singh Advisory, which manages $60 million in assets. In October, Mercer snapped up $630 million Charlotte, NC-based wealth management firm Kingfisher Capital, LLC, and in August the RIA acquired $680 million Colleyville, TX-based wealth manager Steward Wealth Management.  

Denver-based Mercer Advisors manages over $50 billion in client assets, has 990 employees and operates nationally through 80 locations across the country.