One of the country's fastest growing RIAs, Mercer Advisors, with $10.3 billion in assets under management, has staked out digital wealth management as an area of growth by tapping financial software specialist Dave Welling as its new CEO.

Welling's "expertise in technology and digital enterprise solutions will allow Mercer to continue to expand its investment services and digital experiences for clients," former CEO Dave Barton, who has become the company's vice chairman, said in a statement.

Mercer Advisors' AUM has grown by 92% since May 2014.

Prior to joining Mercer, Welling served as co-general manager of SS&C Advent, a division of financial services and software firm SS&C Technologies, based in Windsor, Connecticut, since 2016. In that position, he ran the company's advisory business that focused on serving close to 3,000 advisors, wealth managers and high-net-worth asset managers.

"We are pleased to announce this leadership transition at a time of the company’s ongoing expansion," Tony Salewski, a member of Mercer’s board of director, said in a statement. "Dave Welling is an experienced leader in both the wealth management and financial technology space."

Salewski is also managing director of San Francisco-based private equity firm, Genstar Capital, which acquired Mercer in 2015.

Barton, who served as CEO since 2008, plans to lead the company’s M&A activity as vice chairman, he said in the statement.

Santa Barbara, California-based Mercer has completed six acquisitions over the past 16 months, bringing its nationwide client roster to 6,400.

Welling had joined SS&C in 2015 when the company acquired Advent Software. Four years earlier, in 2011, he joined Advent when it acquired Black Diamond, where he was serving as CEO. Prior to those roles, Welling worked at Charles Schwab in various leadership roles in its adviser custody and 401k businesses.

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Ann Marsh

Ann Marsh

Ann Marsh is a senior editor and the West Coast Bureau Chief of Financial Planning. Follow her on Twitter at @Ann_Marsh.