SANTA BARBARA, Calif., June 13, 2017 /PRNewswire/ -- Mercer Advisors Inc. ("Mercer Advisors"), a leading national Registered Investment Advisor (RIA) firm based in Santa Barbara, today announced the appointment of experienced wealth management executive Dave Welling as Chief Executive Officer as part of a planned leadership transition. Mr. Welling succeeds David Barton, who will transition to Vice Chairman and lead the company's M&A efforts going forward.
Tony Salewski, a member of Mercer's Board of Directors and Managing Director of Genstar Capital, which acquired Mercer in 2015, said, "Mercer continues to be one of the fastest growing RIA's, and we are pleased to announce this leadership transition at a time of the company's ongoing expansion. Dave Welling is an experienced leader in both the wealth management and financial technology space, and he brings a unique set of capabilities to lead the next chapter of Mercer's growth. Dave Barton has done an incredible job of building the business over the past decade, and we look forward to our continued partnership in his new role as Vice Chairman."
Commenting on his new position, Mr. Welling stated, "I am thrilled to join Mercer and to build on the firm's stellar reputation for serving clients. Mercer is one of the country's leading RIA's, and I am excited to be working with Genstar and the Mercer team to fulfill our vision for the company's future. I look forward to Dave's active leadership of our M&A efforts that will expand our comprehensive wealth management offering and our ability to serve clients."
Dave Barton, who has served as CEO of Mercer since 2008, will in his role as Vice Chairman lead the company's M&A activity. "After a successful nine year run as CEO of Mercer Advisors, I have decided to step down as CEO and reduce my responsibilities and role at Mercer. I will now focus my time and attention supporting our new CEO and spearheading mergers and acquisitions for the Company as Vice Chairman. Dave's public company experience and his expertise in technology and digital enterprise solutions will allow Mercer to continue to expand its investment services and digital experiences for clients."
Mercer has completed six acquisitions over the past 16 months. Mercer's assets under management are now $10.3 billion, with 6,400 clients nationwide.
Since 2016, Mr. Welling has served as Co-General Manager of SS&C Advent, a division of SS&C Technologies. In addition to his leadership of the overall Advent business he was also responsible for the Advisory Market Unit, focused on serving close to 3,000 clients who operate as advisors, wealth managers, and high-net-worth asset managers. Mr. Welling joined SS&C in 2015 when the company acquired Advent Software. He joined Advent Software in 2011 when Black Diamond, where he was serving as CEO, was acquired by Advent. Prior to Advent and Black Diamond, he worked with Charles Schwab in various leadership roles in their advisor custody and 401k businesses. He brings with him 20 years of experience working with the industry's largest and fastest growing advisory firms. He holds a BA in Economics from Middlebury College and a MBA from Stanford Graduate School of Business.
About Mercer Advisors
Established in 1985, Mercer Advisors Inc. is a total wealth management firm that provides comprehensive, fee-only investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, asset protection expertise, and corporate trustee and trust administration services. Mercer Advisors is the parent company of Mercer Global Advisors, one of the largest Registered Investment Advisors and financial planning firms in the U.S. with $10.3 billion in assets under management and more than 6,400 clients. Headquartered in Santa Barbara, California, Mercer Advisors is privately held, has over 200 employees, and operates nationally through 23 branch offices across the country. For more information, visit www.merceradvisors.com.
Data as of June 9, 2017. Includes AUM, client, and personnel statistics from Kanaly Trust, a wholly owned subsidiary of Mercer Advisors.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
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SOURCE Mercer Advisors