Already this year there have been a number of M&A deals, with the largest so far being the Fiduciary Trust International transaction this week. Now Mercer jumps into the fray.

Mercer Global Advisors kicked off 2020 with another wealth management purchase, adding to a string of acquisitions last year. Yesterday the firm said it had bought CCP, a business located in Chicago, serving about 100 households with total assets of around $140 million. 

CCP is a registered investment advisor, and owned by Steve Roberts, who will be joining the Mercer Advisors’ team along with Carin Pankros Roman, and the entire CCP staff. CCP will be consolidating with Mercer Advisors’ existing office in Chicago, Mercer said in a statement yesterday. 

Like Mercer, CCP was founded in 1985. In 2009, Roberts became owner, president, and chief compliance officer of CCP. 

The deal comes after Mercer late in December 2019 bought SD Financial Pathways, a firm located in Dearborn, Michigan with about $100 million of client money. Earlier in December last year Mercer bought Houston, Texas-based Republic Wealth Advisors, a firm overseeing about $230 million. A few days previously, Mercer acquired Adam Financial Associates, a firm based in Boca Raton, Florida with $190 million of assets under management. In November, the firm bought A L Hewitt, a Californian business.

Mercer has more than $18 billion in client assets.