Mercer Global Advisors, a Denver, Colorado-based national registered investment adviser, has acquired Regent Wealth Management Group, an RIA firm managing $300m based in Woodbridge, Connecticut.
Regent Wealth Management Group focuses on HNW clients and will be the third Mercer office in the state and its 11th in the Northeast region.
Alan Weiss, founder of Regent Wealth Management, said: "Regent was founded and built around holistically servicing our clients' financial needs at the highest level.
"It was equally important that we provide unbiased advice to our clients; being ‘fee only' and a ‘fiduciary' to our clients is something we take very seriously - it's not just something we put in our Form ADV. Thus, it was important to me we found a partner that put clients' interests first like we do."
Dave Welling, chief executive officer of Mercer Advisors, added: "Alan and his staff are great additions to the team. Alan has built out a deep bench of seasoned professionals and the mix of talent in Woodbridge strengthens our Team with other nearby Mercer Advisor offices in Hartford and Fairfield."
The deal adds around $300m in assets to Mercer's books, taking its total assets to more than $16.5bn.
Mercer Advisors is one of the RIA industry's most active buyers. The aggregator, which has been put up for sale by private equity owner Genstar Capital, has added over $3bn in assets to its portfolio since the start of 2019.