Mercer Advisors and Sequoia Financial Group have both announced new acquisitions, continuing their strategic expansion efforts across the US wealth management landscape.
Denver-based Mercer Advisors said it has acquired two independent firms—Vishria Bird Financial Group in Memphis, and D. Scott Neal in Kentucky—adding a combined $883 million in assets under management and expanding its presence in the Southeast. Meanwhile, Sequoia Financial Group, headquartered in Akron, Ohio, has completed its purchase of Carlson Capital Management, a Minnesota-based advisory firm with $3.8 billion in client assets, marking its ninth acquisition since the beginning of 2023.
With the acquisition of Vishria Bird Financial Group, Mercer Advisors adds $583 million in client assets and deepens its reach in Tennessee, where it already has offices in the Nashville area. The Memphis-based RIA is led by co-founders Harish Vishria and Robert Bird and serves a client base that includes US residents with cross-border family and financial ties to India.
The firm’s expertise in inheritance planning, business succession, and multigenerational wealth strategies positions it to serve a growing demographic of affluent Indian-American households. According to the firm, its services integrate estate, tax, insurance and investment strategies within a values-based financial planning framework.
“Partnering with Mercer Advisors allows us to expand the depth of our services, giving our clients access to more resources while preserving the deeply personal relationships we’ve built over the years,” Bird said in a statement Tuesday.
In a second deal, Mercer Advisors acquired D. Scott Neal, an RIA based in Lexington and Louisville, marking its debut in the Kentucky market. The firm manages over $300 million in assets and has served clients for more than three decades, offering financial planning and investment services tailored to professionals in health care, entrepreneurs, and individuals navigating significant life transitions.
Led by president and CEO Scott Neal, along with Vice President and Chief Compliance Officer Jerome Zimmerer and Senior Advisor Richard Coles, the 10-person team serves clients in 17 states. Mercer Advisors said the acquisition will help strengthen its service capabilities in areas such as estate and tax planning.
In a statement, Neal highlighted the alignment between D. Scott Neal and Mercer Advisors' "client-first values and fiduciary approach," as well as the opportunity to "provide a more comprehensive wealth management offering and tap into the growth opportunities available in Kentucky."
In early January, Mercer Advisors made a big splash to start 2025 with its acquisition of Georgia-based Edward Vance Investment Management and addition of Oregon-based advisors Dave Stuehling John Swanson.
Sequoia Financial Group said its acquisition of Carlson Capital Management brings the firm’s total AUM to approximately $26.4 billion and increases its geographic presence to 19 states through 34 offices. Carlson, which is based in Northfield, Minnesota, manages $3.8 billion and operates four offices across the state.
As part of the deal, Carlson co-founders Gregory Carlson and Jeffrey Carlson will serve as senior strategic advisors. Former Carlson CEO Justin Stets will join Sequoia as executive vice president of integrated wealth services.
The acquisition adds internal tax planning and preparation capabilities to Sequoia’s platform, aligning with the firm’s strategy of delivering integrated wealth services to clients across asset levels. Sequoia has been in operation since 1991 and in 2023 launched its Sequoia Sentinel offering to expand its family office services.
“Our combined capabilities, including CCM's integrated wealth and tax services, will benefit clients as we continue to expand our offerings and footprint,” Sequoia CEO Tom Haught said Tuesday.
Sequoia has made nine acquisitions over the past two years since 2009, including firms such as Zeke Capital Advisors, Affinia Financial Group, and Eide Bailly Wealth, as it continues to scale through both organic growth and M&A.
Ameriprise is offering up to 125% of trailing revenue to poach top-producing Commonwealth advisors from LPL as a recruiting battle continues to rock the independent advisor industry.
Amid growing regulatory and demographic tailwinds, advisors who embrace retirement planning can tap into an entirely new pool of clients.
Inflation, Social Security uncertainty, and day-to-day expenses are fueling retirement insecurity across all generations.
The former Treasury secretary envisions an avalanche of noncompliance as the federal tax agency weathers massive workforce reductions and a string of walkouts in its leadership.
United Planners’ costs related to lawsuits and regulators’ actions into the advisor continue to rise.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
