Mercer Global Advisors Inc., a registered investment adviser, has purchased Argosy Wealth Management Inc., a wealth management firm located near Beverly Hills, California with approximately $330 million in assets under management.
Co-founded by Michael Karon and Alex Kimura in 2010, Argosy is a full-service financial planning and investment management firm that serves approximately 300 high net worth households. Karon and Kimura will join Mercer Advisors along with their seven staff members.
“We are a dedicated financial planning firm and we were looking to join a large platform RIA that could take over time consuming and costly back office work, allowing Alex and I to do what we do best, serve our clients at the highest level and to grow our business,” said Karon.
“Mike and Alex had a number of suitors interested in acquiring their business and rightly so,” said Dave Barton, vice chairman of Mercer Advisors. “What set us apart from other buyers was we had high cultural alignment, we operate similarly, and share the same values and beliefs. It is a solid marriage. Mike and Alex can now stop wearing 12 hats like most small business owners do and instead focus on what they love doing.”
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.