TAAG and Mercer Global Advisors

Park Sutton represents The Asset Advisory Group on its sale to Mercer Global Advisors

New York, NY, October 5, 2022Park Sutton Advisors LLC (“PSA”) is pleased to have represented The Asset Advisory Group (“TAAG”) on its acquisition by Mercer Global Advisors Inc. (“Mercer Advisors”), a leading privately-owned registered investment adviser (“RIA”) with over $44 billion in assets under management and headquartered in Denver, CO. Based in Cincinnati, OH, TAAG is a fee-only, independent RIA with approximately $370 million in assets and was founded by Jeannette Jones in 1988 with the goal of providing financial planning and comprehensive wealth management to clients. David E. Workman (“Chip”), President of TAAG, joined her as a partner in 2008. Terms of the transaction were not disclosed.

Founder, Jeannette Jones, commented on the transaction, “Our clients are like family to us, and as fiduciaries we put their interests above our own. This fiduciary mandate also requires us to prepare for the day that neither myself nor Chip will be around to serve them. It is therefore incumbent on us to develop a succession strategy to make sure our clients continue to receive the highest professional care long after Chip and I are no longer with the business. While Chip and I have no intention of retiring anytime soon, the need to have a succession plan was clear and present, and after meeting with several firms we realized implementing a succession plan now would allow Chip and I to focus on what we love doing, serving our clients, as well as offering new services to our clients through our new partnership with Mercer Advisors.”

David Barton, Vice Chairman of Mercer, stated, “Jeannette and Chip have built a top tier RIA that leads with financial planning that delivers advisor alpha to their clients every day. This is exactly the business model we have built on top of our family office chassis.”

Park Sutton Managing Director, Dan Erichson, CFA, who led the transaction, said, “Cincinnati continues to be an attractive market for RIA acquisitions, and we are thrilled to have returned for our seventh advised transaction in the city and eleventh in Ohio. Jeannette and Chip were amazing clients, and financial planning first firms, including those using DFA, remain highly sought after in what continues to be an extremely active M&A market. We wish them all the best in their new partnership!”

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