Mercer Advisors has acquired Traust Sollus Wealth Management, a boutique wealth manager with $420m in assets, for an undisclosed sum.
Traust Sollus, set up in 1982, offers financial planning, investment management and tax planning strategies for HNW individuals. The firm has offices in New York and Princeton, New Jersey.
The acquisition takes Mercer Advisors’ assets to more than $12bn and increases its total office count to 29.
The 26-member team of Traust Sollus will join Mercer as part of the deal including its president and CEO Al Zdenek, Jr., COO and chief compliance officer Richard Weyers, and head of wealth management Brian Picariello.
“For more than 35 years Traust Sollus Wealth Management has partnered with clients to ensure they are always making the best financial decisions and living the life they want now and in the future – we take pride in positively transforming lives! In Mercer Advisors, we have found a partner that is as passionate and dedicated in delivering top-notch service and ensuring clients achieve their personal and financial goals,” Zdenek, Jr. stated.
Mercer Advisors Dave Welling CEO said: “This acquisition not only deepens our footprint in the Northeast but more importantly allows us to greatly expand key components of our family office suite of services.
“The addition of the consequential executive talents that Al, Rick, and Brian bring to Mercer further deepens our executive bench and adds decades of wealth management experience to our organisation. We are also thrilled to be expanding the scale and expertise of our tax practice through the addition of Traust Sollus’ tax team.”