CW Advisors, a registered investment advisor based in Boston, has announced a new acquisition to expand its presence in New Jersey.
On Thursday, the ultra-high-net-worth RIA announced it had acquired Mercadien Asset Management, an RIA located in Hamilton.
The financial details of the transaction were not disclosed.
Paul Lonergan, chief executive officer of CW Advisors, expressed enthusiasm about the acquisition.
“Ken and his team are outstanding,” Lonergan said in a statement Thursday.
“We are excited to welcome the team and their clients to CWA. With a strong focus on financial planning and client service, they are a great asset to the firm,” he said.
Mercadian Asset Management has $243 million in discretionary AUM, and it provides financial planning and portfolio management services for individuals and businesses, according to its latest Form ADV.
This acquisition strengthens CW Advisors' presence in the Mid-Atlantic region, adding to its existing offices in Wynnewood, Pennsylvania, and Columbia, Maryland.
With its latest deal, the firm now operates nine offices nationwide, employing 92 individuals and managing over $8.8 billion in assets.
Ken Kamen, president of Mercadien Asset Management, highlighted the alignment of the two companies' goals.
"CWA’s philosophy and platform make them the perfect partner to continue providing quality service and an expanded offering to our clients,” he remarked.
The acquisition, completed earlier this month, marks CW Advisors' third transaction since it made the decision to partner with Audax Private Equity in June 2023.
Scott Dell’Orfano, chief strategic officer at CW Advisors, emphasized the strategic fit between his firm and the new team.
“Mercadien Asset Management represents an ideal partner to work with to expand our platform for high-net-worth and ultra-high-net-worth clients,” Dell’Orfano said.
CEO Allen Darby sees a coming shift in M&A dynamics as AI eliminates clerical roles at RIAs, leaving buyers and sellers to negotiate who benefits from the added margin.
Michael Bell explains how the PE push in retirement plans will benefit investors, why warnings around risks may be overplayed, and what it will take to get plan fiduciaries comfortable with private investments.
Research highlights the dominant role of workplace retirement plans and breaks down the major factors dictating workers' IRA rollover decisions.
The wealth tech firm is rolling out its "Do Anything" assistant as leaders and strategists tout the next evolution of artificial intelligence.
Appeals court overturns SEC’s CAT funding plan, broker-dealers face new uncertainty.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
