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Thursday, March 7, 2024

Mercer Nabs $2.5B UHNW Group

The RIA Mercer International Advisors says it’s buying MDK Personal Wealth Administration, a agency primarily based in Seattle that works with ultra-high-net-worth shoppers with some $2.5 billion of property beneath supervision.

“One of many fastest-growing areas of our enterprise is our tailor-made companies for ultra-high-net-worth shoppers and we’re excited so as to add the MDK group to additional bolster our experience and capabilities in that space,” mentioned Dave Welling, CEO of Mercer Advisors, the dad or mum firm of Mercer International Advisors. 

MDK supplies its shoppers with household workplace companies equivalent to funding administration, belief and property planning, non-public banking and lending, tax planning, non-public aviation, boat advisory and government planning. Its leaders just lately “needed to construct out our scale making a platform for institutional and ongoing care,” co-founder Chris Kalafatis mentioned in a press release.

“We had been confronted with the choice of whether or not to construct this platform or decide if one existed that was aligned with our imaginative and prescient of what a nationwide household workplace providing may very well be,”  co-founder Jaimi Dennehy mentioned in a information launch. “After an exhaustive search, we selected to accomplice with Mercer Advisors.”

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