Mercer Global Advisors Inc., a registered investment adviser, has acquired ClearRock Capital LLC, a wealth management firm headquartered in Sun Valley, Idaho with a second location in San Francisco, California. ClearRock serves approximately 250 high net worth households with more than $660 million in assets.
ClearRock was founded in 2007 by Mark Eshman and James Everitt who will join Mercer Advisors along with their eight staff members.
ClearRock is a wealth management firm that provides financial services to high net worth clients, and also represents and manages funds for foundations and endowments, including small business retirement plans. The company’s $664 million of assets is comprised of $557 million of assets under management and $107 million of assets under advisement.
“This was not an exit strategy for Jamie and me,” said Eshman. “We have no intention of retiring anytime soon. For us this was a business continuity strategy. As a result, we were looking for a partner that respects what we bring to the table, supports what we do really well, and of course, takes over time consuming middle and back office work that robbed us of needed capacity.”
Yesterday, The DI Wire reported that Mercer purchased Argosy Wealth Management Inc., a wealth management firm located near Beverly Hills, California with approximately $330 million in assets under management.
Established in 1985, Mercer Global Advisors is a wealth management firm that provides comprehensive, fee-based investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, asset protection, and corporate trustee and trust administration services. Mercer Advisors Inc. is a parent company of Mercer Global Advisors (RIA), and majority owned by both Oak Hill Capital and Genstar Capital.