National registered investment advisor Mercer Global Advisors has announced the acquisition of Fure Financial Corporation, an RIA headquartered in Bloomington, Minn., with approximately $260 million in assets under management and 300 clients.
Fure Financial was founded in 1985 by President, Senior Wealth Advisor and Chief Investment Officer Johannes C. Fure, CFP. The entire Fure Financial team will also be joining Mercer Advisors.
“In looking for a partner to help us provide customized wealth management while continuing to grow, we knew we needed scale and time leverage,” said Fure, adding in a statement that Mercer provided the “best fit.”
“A huge plus was the fact that we could continue running our office while offloading onerous back-office tasks, like HR and compliance, while adding new services for our clients like in-house estate planning, tax return preparation, and a corporate trustee service,” Fure said.
Fure Financial has a history of providing financial planning and investment management strategies to young professionals, growing families and retirees—saying its advisors strive “to make the experience fun.”
“Johannes and his team are a highly respected group of wealth management professionals who share our commitment to the profession and our communities,” stated Mercer CEO Dave Welling. “We are thrilled to be opening a new location in the Twin Cities and look forward to working together to help deliver meaningful results for our shared clients.”
David Barton, former CEO and current head of the Mercer M&A deal team, called the merger “a perfect partnership.”
Established in 1985, Mercer provides fee-based investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, insurance solutions, and corporate trustee and trust administration services. Majority-owned by both Oak Hill Capital and Genstar Capital and a subsidiary of Mercer Advisors Inc., Mercer Global is among the largest RIAs in the nation, with more than $34 billion in AUM across 25 states, per its latest Form ADV filing.
Headquartered in Denver, Mercer Advisors is privately held, has more than 670 employees and operates through more than 60 offices across the country.