Mercer Global Advisors Inc., a Denver-based national Registered Investment Adviser (RIA), said Tuesday it has acquired Benchmark Wealth Management LLC of Old Lyme.
Terms of the deal were not disclosed.
Located at 83 Halls Road, in Old Lyme, Benchmark provides financial planning and wealth management for high-net-worth professionals and retirees, according to its website.
Its website also lists an office at 4851 Tamiami Trail North, in Naples, Florida.
Its principals, Richard Stout III and Thomas Britt, merged their separate financial planning practices in 2007 to form Benchmark. As of July 31, they serve more than 300 clients representing approximately $412 million in assets under advisement, the companies said.
The partners said Mercer Advisors provides a like-minded philosophy around client experience and financial planning.
“Once we got to know the team at Mercer Advisors, we became confident that our clients would continue to receive top-notch care and that we would have opportunities to further deepen these relationships by adding services such as estate planning, tax guidance, and more,” Stout said.
Mercer Advisors has offices in more than 90 locations nationwide. Benchmark joins three other offices in Connecticut, including locations in West Hartford, Westport and Woodbridge.
Mercer Advisors Inc. is the parent company of Mercer Global Advisors Inc., and is majority owned by Oak Hill Capital, Genstar Capital and Altas Partners. It has over 1,150 employees and $63 billion in client assets.
