Mercer Advisors this week announced two acquisitions in Kades & Cheifetz LLC, a Pennsylvania-based RIA, and Kiely Wealth Advisory Group (KWAG) in North Carolina.
Located in the suburbs of Philadelphia with additional coverage in Florida, Kades & Cheifetz manages $440 million in client assets.
“Joining Mercer Advisors allows us to free up our time to focus on serving existing and new clients. We thrive serving affluent families that want help creating and executing plans that secure their economic futures,” said Howard Kades, partner at Kades & Cheifetz LLC.
Stephen Cheifetz, also partner at the RIA, stated, “We realized many clients were growing to expect more comprehensive support covering their full wealth picture. Mercer Advisors and the family office offering helps us solve this.”
David Barton, vice chairman, who led the acquisition of Kades & Cheifetz on behalf of Mercer Advisors added, “Howard and Steve built an attractive clientele focusing in the affluent “Main Line” area that runs west of Philadelphia. Mercer Advisors has had a presence in this market for nearly three decades and we are excited to continue growing together in this region and beyond.”
“When we met Howard and Steve, their unwavering commitment to always putting clients first was evident. Kades & Cheifetz is an exemplary and like-minded firm,” said Dave Welling, CEO of Mercer Advisors. “We welcome them to our growing presence in Pennsylvania and Florida.”
The news comes as Mercer also acquires $523 million RIA KWAG of North Carolina.
KWAG says it chose to partner with Mercer because of its expanded wealth management capabilities for clients, its shared philosophy around client service and financial planning, and for the opportunity to bolster new client development efforts. “For more than 25 years, we’ve focused on serving clients as a fiduciary with financial planning at the center of our service model. We were intrigued that Mercer Advisors shares our values and would help us scale,” said Joe Kiely, Ph.D., president, CEO and founder of the firm.
David Barton, vice chairman, who led the acquisition on behalf of Mercer Advisors added, “Joe and the team at KWAG think about the world in ways that are hyper-compatible with our family office model and our commitment to serving clients as a fiduciary. They are a natural fit for our organization.”
“With the union of our firms, the clients of KWAG will gain access to our suite of wealth solutions, including estate, tax, and insurance planning. Together, we will enhance the financial well-being of our shared clients,” said Dave Welling, CEO of Mercer Advisors. “We are excited to welcome this experienced team as we continue to grow our presence in North Carolina.”
Kades & Cheifetz was exclusively advised by Colchester Partners, while Cambridge International Partners served as the exclusive financial advisor to Kiely Wealth Advisory Group.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.