Mercer Advisors, the Denver-headquartered registered funding advisor with $90 billion in property, has acquired Seaside Freeman Lim & Cleland, a Los Angeles-based accounting agency, representing its first tax-only deal.
Seaside Freeman Lim & Cleland brings 20 tax professionals throughout workplaces in El Segundo, Irvine and Ontario, Calif. They serve purchasers throughout industries, together with healthcare, actual property, regulation companies, development, skilled athletes and franchise companies. These professionals be part of Mercer, with full-time workers having the chance to personal fairness.
The transfer is a major step in direction of Mercer’s integration of tax providers into monetary administration. Mercer is searching for to increase its planning and preparation capabilities by way of partnerships with tax companies.
“This partnership displays our strategic deal with tax as a cornerstone of our household workplace set of providers,” stated Jeremiah Barlow, chief options officer at Mercer Advisors. “Kendrick Mercer, who based our agency 40 years in the past, was himself a tax and property lawyer.”
Mercer presently has a nationwide tax staff of greater than 120 professionals.
“[BFLC’s] tradition of partnership and investing in CPA expertise very a lot mirrors our personal. We couldn’t be extra excited to welcome them to the Mercer Advisors household,” Mercer President Daniel Gourvitch stated in a press release. “Their sturdy shopper relationships and Southern California presence make them a precious addition to Mercer Advisors as we scale our tax providers in key markets.”
Gourvitch joined Mercer in 2022 from BlackRock, the place he was a managing director and world head of platform for its Aladdin enterprise. He stated one of many causes he joined the RIA was to assist construct a wealth supervisor with the capabilities of a big, bank-owned agency, however with a fiduciary mindset.
This follows information final month that Mercer acquired Singer Burke’s RIA, SB Capital Administration, and Singer Burke Zimmer & Kogan, an accounting, tax, enterprise and monetary consultancy. They joined Mercer’s ultra-high-net-worth-focused Regis Group, a specialised staff centered on purchasers with $25 million or extra in investable property.
Mercer is majority-owned by Oak Hill Capital, Genstar Capital, Altas Companions and GIC, a world institutional investor.
