Mercer Advisors Buys $523M North Carolina Wealth Manager
Mercer Global Advisors, Inc. has acquired $523 million North Carolina-based Kiely Wealth Advisory Group.
KWAG said it was looking to partner with a firm that offers expanded wealth management capabilities, shares a similar philosophy around client service and financial planning, and would help them bolster new client development efforts.
“For more than 25 years, we’ve focused on serving clients as a fiduciary with financial planning at the center of our service model,” said Joe Kiely, president, CEO and founder. “We were intrigued that Mercer Advisors shares our values and would help us scale.”
In early September the firm acquired Benchmark Wealth Management, LLC, an Old Lyme, CT-based advisory firm with approximately $412 million in assets under advisement that focuses on high-net-worth professionals and retirees.
The $63 billion Mercer Advisors Inc. is a parent company of Denver-based Mercer Global Advisors Inc. and is majority owned by private equity firms Oak Hill Capital, Genstar Capital, and Altas Partners.
Cambridge International Partners served as the exclusive financial advisor to Kiely Wealth Advisory Group.
