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September 30, 2021

Mercer Advisors buys Texas-based wealth manager Quest Capital

By Verdict Staff

Mercer Global Advisors has acquired Texas-based wealth management firm Quest Capital for an undisclosed amount.

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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Founded in 1987, Quest offers wealth management services to high-net-worth individuals, families, and their businesses.

The firm manages $1.5bn in assets on behalf of its approximately 660 clients.

As part of the deal, Quest’s six shareholders and its 17 employees will join Mercer Advisors’ team.

Quest shareholder Kalita Blessing said that the deal brings ‘immediate benefits to the company’s clients by accessing Mercer Advisors’ in-house family office services such as estate planning and tax return preparation’.

Quest COO Dennis Moore added: “We were keen to expand our service offering, and add real horsepower to our middle and back-office resources to create scaled efficiency.

“Dave Barton, Mercer Advisors Vice Chairman, whom we worked with to complete this business combination, communicated this strong value proposition early and often, and the Quest partners agreed it was best for Quest, our loyal clients, and our staff.”

The acquisition is expected to expand Mercer Advisors’ presence in Dallas, Houston, and Austin.

Earlier this week, Mercer acquired Washington-based wealth management firm Miller Advisors, which managed $240m in assets.

Wisconsin-based AFI Wealth Strategies, ET George Investment Management, Hart Capital Management and Pinnacle Wealth Solutions are amongst the other acquisitions made by the firm earlier this year.

Last year, it made a number of purchases, including that of Personal Financial Advisors, Summit Wealth Advisors, ClearRock Capital and M.J. Smith and Associates.

Commenting on the latest deal, Mercer Advisors CEO Dave Welling said: “The Quest leadership group have assembled a strong team and are highly respected in our industry.

“This is the type of talent we seek to add to our team and we look forward to expanding on the services to help better serve the current and future Quest clients.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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