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July 1, 2020

Mercer snaps up $330m California RIA Argosy Wealth Management

Mercer Global Advisors has continued its buying spree with the acquisition of Beverly Hills, California-based Argosy Wealth Management.

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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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The deal, whose financial details were not revealed, adds around $330m to Argosy’s books.

Founded in 2010, the acquired business offers financial planning and investment management services to HNW clients. The firm caters to nearly 300 households.

As part of the deal, Argosy founders Michael Karon and Alex Kimura and seven employees of the firm will move to Mercer.

Karon noted: “We are a dedicated financial planning firm and we were looking to join a large platform RIA that could take over time consuming and costly back office work, allowing Alex and I to do what we do best, serve our clients at the highest level and to grow our business.

“After meeting and spending time with Dave Barton, Vice Chairman leading Mercer Advisors’ M&A activity, we knew we found the right partner.”

Mercer Advisors vice chairman leading M&A activity Dave Barton said: “What set us apart from other buyers was we had high cultural alignment, we operate similarly, and share the same values and beliefs.”

Barton said that the takeover will enable Argosy to provide Mercer Advisors’ Family Office services including in-house estate planning and tax return preparation services to their customers.

Earlier this year, Colorado-based Mercer Advisors acquired First Ohio Planning with around $350m in assets and $140m Illinois wealth manager CCP.

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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