Mercer Advisors announced today it acquired a wealth management firm in Boca Raton, Fla. Adam Financial Associates serves nearly 200 households and manages $190 million in assets.
AFA advisors include founder and President Mari Adam, financial planner Anthony LaBrake, and client services associates Austin Tanner and Scott Weigel. The team caters to the high net worth, and focuses on women and couples. Beyond its Florida expansion, Mercer Advisors plans to involve Adam in InvestHERS, a program it started to educate women on financial independence.
The acquisition helps expand Mercer Advisors' presence in Florida, adding AFA’s Boca Raton office to the others it has near Tampa in Clearwater and Palm Beach Gardens. Mercer picked up the Clearwater office when it acquired GFS Private Wealth Management, founded by Greg Willsey and Sandra Nesbit, in 2018. That same year it acquired Beacon Wealth Management, which was founded by Mark S. Germain and has offices in Hackensack, N.J., and Palm Beach Gardens.
“The AFA acquisition brings Mercer Advisors’ total offices to 46 and increases Mercer Advisors’ total AUM to nearly $17.5 billion,” Mercer stated.
Mercer Advisors has been on an acquisition binge. Just last month it announced the acquisition of California firm AL Hewitt. It also said it planned to add five more firms into its fold by the end of the year.