Denver-headquartered Mercer Global Advisors Inc. has acquired First Ohio Planning LLC, a wealth management firm located in Columbus. The transaction will expand Mercer’s wealth management services in Ohio.
First Ohio was owned by James S. Ryan, who will be joining Mercer along with his staff of five. First Ohio will be merging with Mercer Advisors’ existing office in Columbus where Mercer has had a presence for over 20 years.
Ryan says that First Ohio was looking for a partner that would allow First Ohio to continue to flourish in ERISA plan vehicles, where it has a lot of expertise, while providing growth opportunities for the firm and staff.
“I met with Dave Barton, Mercer vice chairman who leads Mercer Advisors’ M&A activity, on many occasions,” he states. “We ‘hit-it-off’ and, as a past CEO of Mercer Advisors, he understood the business in detail and also knew first-hand the challenges I was facing as a business owner. Together we walked through the pros and cons of a business combination and my conclusion was Mercer Advisors was a great fit for me, my staff, and most important for our clients. The transaction was additive for all concerned and we couldn’t be more excited to join the Mercer Advisors team.”
First Ohio serves approximately 280 households with assets under management of approximately $350 million.
Mercer Advisors Inc. is a parent company of Mercer Global Advisors Inc., majority owned by both Oak Hill Capital and Genstar Capital, one of the largest Registered Investment Advisors and financial planning firms in the U.S. With the acquisition of First Ohio, Mercer Advisors’ total assets under management will be more than $18.7 billion. Mercer Advisors has over 400 employees and operates nationally with nearly 50 offices across the country.