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June 20, 2019

Mercer bolsters Southern California presence with JFM purchase

Colorado-based RIA aggregator Mercer Global Advisors has acquired Jackson Financial Management (JFM), a California-based wealth manager.

JFM, set up in 1995, serves wealthy families, corporate executives and medical professionals.

The companies did not disclose the value of the transaction, but the deal strengthens Mercer’s Southern California footprint.

Currently, the firm operates in the region through offices in Santa Barbara, San Diego, Los Angeles and Newport Beach.

The acquisition adds JFM’s Costa Mesa office to Mercer’s network.

Together, these five offices have around $4bn in assets under management.

The purchase adds around $510m in assets to Mercer’s books, boosting its total assets under management to more than $16bn.

The deal also increases Mercer’s total office count to 41.

Mercer CEO Dave Welling said: “I have known Tracy for many years and have tremendous respect for what he and his team have accomplished.

“They have built an incredibly successful business that puts the client first. Tracy and his team share our commitment to excellence and vision to deliver a truly integrated set of wealth management services all from one trusted firm.”

As part of the deal, JFM founder Tracy Jackson will move to Mercer along with his 13 team members.

Jackson called the deal the “only compatible fit” for JFM in order to operate as a family office adviser to affluent clients.

Mercer snapped up several firms since the beginning of 2019.

Earlier this year, the firm purchased Colorado’s Confluence Financial Advisors, Michigan-based Arbor Asset Management, and California-based Dragon Financial Group.

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