Santa Barbara-based registered investment advisor Mercer Advisors Inc. has announced its acquisition of Spruce Hill Capital, an RIA firm managing $110 million in client assets and located in Guilford, Connecticut.
Mercer Advisors is the parent company of RIA Mercer Global Advisors, which has over $6 billion in assets under management and more than 5,000 clients.
The purchase increases Mercer's east coast presence and accessibility, and is part of an acquisition strategy the firm is pursuing to become "the first authentically national registered investment advisor in the United States," according to David H. Barton, chief executive officer of Mercer Advisors.
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