Just days after announcing its first acquisition since its latest recapitalization, Mercer Global Advisors has expanded again.
Mallard Financial Partners Inc., a comprehensive wealth management firm located in Newark, Delaware, serves around 200 clients with assets under management of approximately $180 million. The deal is the second Mercer announced this week following its acquisition of Georgia’s Day & Ennis.
Mallard was founded in 1996 by Paul Baumbach, who says that while he and the firm remain committed to the personalized service and values of its 27 years in business, he recognizes the benefit to the firm and its clients of the resources and potential for growth of a larger entity.
The deal came about after Baumbach, who currently co-manages the firm along with CEO Joe Daigle, was introduced to David Barton, Mercer’s vice chairman, who heads up the firm’s M&A team.
“We found a wonderful cultural fit between our two organizations, and loved the fact that they offer, in-house estate planning, tax planning and return preparation, in addition to custom financial planning and investment management services,” Baumbach said. “This enhanced service offering is a true value-add to our clients, a key criterion for us.”
For Mercer, the addition of Mallard expands its footprint in the Northeast, and Barton says that adding the team in Newark is a win-win transaction.
“Paul and Joe have built a high-service boutique wealth management firm dedicated to putting their clients’ interest first,” he said. “We share that vision and business values, and together we host a panoply of professional solutions to their growing clientele in the tri-state area and beyond.”
He added that the Mallard leadership are assured that their team members will have expanded career development opportunities at Mercer Advisors.
Mercer Global Advisors has over 890 employees and operates nationally through 80-plus locations across the country, managing $48 billion in client assets.
The leadership changes coming in June, which also include wealth management and digital unit heads, come as the firm pushes to offer more comprehensive services.
Strategist sees relatively little risk of the university losing its tax-exempt status, which could pose opportunity for investors with a "longer time horizon."
As the next generation of investors take their turn, advisors have to strike a fine balance between embracing new technology and building human connections.
IFG works with 550 producing advisors and generates about $325 million in annual revenue, said Dave Fischer, the company's co-founder and chief marketing officer.
Five new RIAs are joining the industry coalition promoting firm-level impact across workforce, client, community and environmental goals.
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.
