Mercer Advisors has acquired Duckworth Wealth Advisors, a Newport Beach, CA-based family office offering investment management, financial planning, estate and tax planning, and corporate trustee services managing USD160 million in client assets.
Founder Michael Duckworth, CPA, and additional principal owners Mark Doran, CPA, Kara Duckworth, CFP, and Elizabeth deSouza, CFP, lead a team of professionals providing comprehensive wealth management services for high net worth individuals and families with complex financial situations.
Mercer CEO David Barton, says: "Duckworth is a wonderful and complementary fit to our national family office and greatly expands our Southern California footprint. Mike and his team have built an impressive and growing business and we look forward to helping expand their capabilities and drive continued growth. This acquisition is the sixth transaction we have completed in the last year which is representative of a rapidly consolidating industry and the attractiveness of our business model – a Mayo Clinic approach to financial care. At 23 offices nationwide, we are among the largest independent family office RIA's in the United States."
Michael Duckworth says: "Our partnership with Mercer allows us to continue our focus on holistically serving clients, a culture we share with Mercer. Mercer will play an important role in supporting our continued growth and scale while further strengthening our ability to meet the current and future needs of our clients."
This transaction increases Mercer's assets under management to over USD9.6 billion, with 6,400 clients nationwide.
Mercer in January announced the acquisition of Novos Planning Associates, Inc, a New York City based RIA firm managing USD100 million in client assets.