DENVER, Dec. 1, 2021 /PRNewswire/ -- Mercer Global
Advisors, Inc. ("Mercer Advisors"), a national Registered
Investment Adviser (RIA), today announced the acquisition of
Precipio Wealth Management LLC, ("Precipio"), a respected wealth
management firm located in McLean,
Virginia. Precipio serves clients in 19 states with assets
under management (AUM) of approximately $250
million. Precipio was founded as a fee-only RIA in 2009 by
Edgar L. Parrish, Managing
Principal, CFP®, CIMA®, AIF®, and
Katherine M. Parrish, Managing
Principal, CIMA®, AIF®. Precipio offers
comprehensive financial planning and portfolio management to
high-net-worth individuals, families, trusts, and retirement plans,
with a practice that stretches back to the 1970's. Precipio's
entire team will be joining Mercer Advisors.
As Senior Wealth Advisors, Edgar L.
Parrish ("Edgar") has 50 years of experience in investment
management consulting, and Katherine M.
Parrish ("Katy") has 30 years of experience in financial
services and public economics. Since its founding, Precipio's
mission statement has been: "As trusted advisors, we help our
clients make good decisions that empower them to be able to do the
things for themselves and their families that reflect their values,
now and in the future, when capital markets may not be like
today's."
Commenting on the transaction, Co-Founder Edgar Parrish stated: "Precipio is dedicated to
serving our clients in a fiduciary manner. As fiduciaries, it's
incumbent on us to ensure our clients are well taken care of, both
now and for generations to come. While we have no present
intentions to retire, we are at that stage when succession planning
is top of mind. Katy and I searched to find a partner that was a
cultural fit and would ensure continuity, and Mercer Advisors' end
client focus was a clear differentiator for us. We discussed
business succession planning with David
Barton, Vice Chairman, head of mergers and acquisitions at
Mercer Advisors, undertook due diligence, and the rest is
history."
Co-Founder Katherine M. Parrish
added: "In our meetings with Dave
Barton and other management, it was very important to us
that we find a partner that reflected our values, and it was clear
we all shared a deep commitment to the fiduciary model and putting
clients' interests first. We also wanted to be sure our staff was
not only retained, but also have career development opportunities,
and Mercer Advisors does that. The fact that Mercer Advisors can
take over our back-office responsibilities, ever-increasing
compliance duties, and offers in-house family office services such
as estate planning, trust administration, and tax were also driving
factors in making our decision to join the Mercer Advisors team. We
couldn't be more excited."
David Barton, Vice Chairman who
led this transaction on behalf of Mercer Advisors added: "Edgar and
Katy are quality people, highly credentialed and seasoned
professionals who have a long history of serving their clients as
advisors with dedication along with the service administrators. In
our business, you are only as good as your talent, and our industry
is starving for talent. With Edgar, Katy and their team joining
Mercer Advisors, we are adding highly talented people to the firm.
This business combination is a win for both parties, the clients,
and staff, -- bedrock for any successful transaction."
Dave Welling, Chief Executive
Officer of Mercer Advisors said, "Edgar and Katy have built a great
business and are highly respected wealth management professionals
along with their team. The Precipio team will add to our already
strong presence in Virginia and
the Mid-Atlantic region. This is the type of talent we seek to add
to our firm, and we look forward to offering expanding services to
their clientele for years to come."
About Mercer Advisors
Established in 1985, Mercer Global Advisors Inc. ("Mercer
Advisors") is a total wealth management firm that provides
comprehensive, fee-based investment management, financial planning,
family office services, retirement benefits and distribution
planning, estate and tax planning, insurance solutions, and
corporate trustee and trust administration services. Mercer
Advisors Inc. is a parent company of Mercer Global Advisors Inc.
(RIA), majority owned by both Oak Hill Capital and Genstar Capital,
one of the largest Registered Investment Advisors and financial
planning firms in the U.S. with $36.5
billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has
over 630 employees, and operates nationally through 55+ offices
across the country. For more information, visit
www.merceradvisors.com.
Data as of October 31, 2021. AUM
includes affiliates and wholly owned subsidiaries.
Mercer Global Advisors Inc. is registered with the Securities
and Exchange Commission and delivers all investment-related
services. Mercer Advisors Inc. is the parent company of Mercer
Global Advisors Inc. and is not involved with investment
services.
Mercer Advisors is not a law firm and does not provide legal
advice to clients. All estate planning documentation preparation
and other legal advice is provided through its affiliation with
Advanced Services Law Group, Inc. National Advisors Trust Company,
FSB (NATC) provides estate settlement and corporate trustee
services. ASLG and NATC are separate and distinct from each other
and Mercer Global Advisors Inc. and require separate agreements to
engage their services.
Certified Financial Planner Board of Standards, Inc. (CFP Board)
owns the CFP® certification mark, the CERTIFIED
FINANCIAL PLANNER™ certification mark, and the CFP®
certification mark (with plaque design) logo in the United States, which it authorizes use of
by individuals who successfully complete CFP Board's initial and
ongoing certification requirements. Investments &
Wealth Institute® (the Institute) is the owner of the
CERTIFIED INVESTMENT MANAGEMENT ANALYST® certification
mark, "CIMA®" and "CPWA®." Use of
CIMA®, and/or CPWA® signifies that the user
has successfully completed the Institute's initial and ongoing
credentialing requirements for wealth advisors. The Fi360
Accredited Investment Fiduciary® (AIF®)
Designation is a professional certification that demonstrates a
fundamental understanding of the principles of fiduciary duty, the
standards of conduct for acting as a fiduciary, and a process for
carrying out fiduciary responsibility. The AIF®
Designation mark demonstrates completion of rigorous training and
examination requirements, as well as an ongoing commitment to
professional and ethical conduct.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
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SOURCE Mercer Global Advisors Inc.