4 questions for an RIA in the wake of its M&A succession deal

In a new episode of the Financial Planning Podcast, two longtime business partners and veteran advisors explain the process of selecting and merging into an RIA consolidator.

Julianne Andrews and Cathy Miller of Atlanta Financial Associates sold their 29-year-old practice to Mercer Advisors earlier this year. With a team of 19 employees managing $815 million in client assets, they added to private equity-backed Mercer’s more than 45 offices and $25 billion across the RIA consolidator’s network. Mercer and other acquirers have fueled record M&A volume across wealth management for several years in a row.

Mercer Advisors

In the podcast, FP Chief Correspondent Tobias Salinger asked Andrews and Miller the following four questions about how they approached their succession deal, what made Mercer the best fit and how their day-to-day tasks have changed in the wake of the merger.

1. You launched your practice in 1992. When did you decide to team up as business partners, and what do you remember about that time?

2. Fast forward about 30 years. You hired Park Sutton Advisors and selected Mercer out of a number of potential acquirers. What made it a good time to fold into a larger firm, and what made Mercer the best choice for your clients and your team?

3. We’re now nearly nine months after the deal with Mercer. How has your day-to-day work changed?

4. M&A deals in wealth management are on pace for another record year in 2021. And RIAs seem to have more and more options in terms of the kinds of potential deals, acquirers and capital available in the marketplace. What advice would you have for other advisors considering sales of their practices?

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