Mercer Advisors Strikes Deal for $680M Texas RIA

Oak Hill Capital and Genstar Capital-backed registered investment advisor Mercer Global Advisors, Inc. Has acquired $680 million wealth manager Steward Wealth Management.

Financial terms of the deal were not made available.

Founded by Dustin Stiefel and Vince Hawkins in 2005 and located in Colleyville, TX, Steward specializes in financial planning, investments, tax and estate planning.

“After meeting with David Barton (Vice Chairman, who heads up M&A for Mercer Advisors), we found a wonderful cultural fit between our two organizations and loved the fact that they offer, in-house estate planning, tax planning and return preparation, among other services,” said Hawkins.

On Tuesday, Mercer announced its acquisition of Private Asset Management, a high-net-worth focused wealth manager headquartered in San Diego. Mercer gained its 600 clients with approximately $720 million in assets.

The latest deals are the third and fourth in three months for the serial RIA acquirer.

The firm also announced it purchased $400 million Georgia-based Day & Ennis and $180 million Delaware-based Mallard Financial Partners.

Headquartered in Denver, CO, Mercer Advisors is a parent company of Mercer Global Advisors Inc. and Regis Acquisitions, Inc. The firm manages $48 billion in client assets.