Mercer Advisors announced the acquisition of Duckworth Wealth Advisors, a Newport Beach, Calif.-based family office with $160 million in client assets.
Duckworth Wealth founder Michael Duckworth and owners Mark Doran, Kara Duckworth and Elizabeth deSouza will continue to offer investment management, financial planning, estate planning, tax planning and corporate trustee services to their clients as part of Mercer Advisors, which is based in Santa Barbara, Calif.
The Duckworth acquisition is the company’s sixth in the last year—most recently, Mercer acquired New York-based Novos Planning Associates, an RIA with $100 million in client assets, according to Mercer CEO David Barton.
This latest transaction increases Mercer’s footprint to 23 offices nationwide. The RIA manages $9.6 billion in assets for more than 6,400 clients.
