Mercer Global Advisors Acquires O’Brien Wealth Partners

Mercer Global Advisors, the acquisitive registered investment advisor with about $72 billion in client assets, has acquired O’Brien Wealth Partners, a Waltham, Mass.-based firm with about $1.1 billion in client assets.

O’Brien expands Mercer’s footprint in the Greater Boston area and brings a next-gen team that is primarily owned and led by women.

O’Brien was founded in 1986 and serves over 500 individuals and families in New England. It’s led by President and CEO Jill Fopiano.

“We were looking for a partner who could honor the care and continuity we’ve provided clients for decades, while advancing our vision for thoughtful, intentional growth,” Fopiano said in a statement. “Mercer Advisors brings deep planning expertise, institutional-level capabilities and a genuine respect for how we serve. Just as importantly, they understand the power of diverse leadership and a collaborative culture, making this a natural next chapter for our team and the families we support.”

The team now has access to Mercer’s suite of integrated family office services, including estate planning, tax strategy and preparation, corporate trustee services and advanced investment management. Mercer also provides the team career development support and growth assistance in the Greater Boston area.

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This follows Mercer’s acquisition last month of Full Sail Capital, an Oklahoma City RIA with about $2 billion in client assets, Mercer’s third-largest deal to date.

Over the last nine years, Mercer has solidified its place as one of the most active acquirers in the industry, using its “integration—not aggregation—model” to attract potential partners. The firm recently announced it had surpassed 100 deals since launching its M&A strategy in 2016, with the acquisitions of Tufton Capital Management, a $810 million AUM RIA in Hunt Valley, Md., and Lewis Wealth Management, a Denver-based RIA with about $75 million in AUM.  

Mercer also recently announced that more than half (674) of its 1,300 employees are now equity owners in the RIA. That’s up tenfold from 2018, when there were fewer than 70 employee shareholders.

Mercer is majority owned by Oak Hill Capital, Genstar Capital, Altas Partners and GIC, a global institutional investor.