What you need to know about Mercer Advisors

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There’s a new name staking its claim in the broker-dealer landscape. Mercer Advisors, which has been known for its buying of registered investment advisors (RIAs), has announced that they are launching their own broker-dealer. 

Over the last 7 years, Mercer Advisors has acquired over 75 firms. Of those firms, a handful already had relationships with broker-dealers. However, the support those firms were receiving wasn’t viewed as strong, resulting in a poor client experience. 

The move to start their own broker-dealer will allow advisors to better serve their clients while keeping their best interests at the forefront. With the addition of Mercer’s broker-dealer, the firm will be able to have greater control over the client and advisor experience, allowing for enhanced flexibility on products and service offerings. 

The decision to launch their own broker-dealer comes after the acquisition of Heim, Young & Associates, as well as its broker-dealer affiliate last year. HYA’s broker-dealer was already well established with robust back-office operations and their success with millennials and younger clients was strong enough to convince Mercer to transfer its additional brokerage business to it. 

Despite the addition of a broker-dealer, Mercer’s mission and reputation as a fee-only fiduciary will stay. They’re committed to acting in the best interest of their clients and will compensate their advisors accordingly. They’ve reinforced the idea that this move won’t translate to advisors pushing products or focusing on hitting sales goals.  

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