Mercer Global Advisors announced the acquisition of HYA Advisors, a Springfield, Mo. RIA and broker with $1.2 billion in assets under management and advisory.
HYA Advisors recently reported managing $917 million. As part of the deal, Mercer is acquiring HYA’s affiliate broker, Heim Young & Associates.
HYA is currently led by President and CEO Brent Singleton and has 13 employees in an advisory capacity. The company’s partners, including Singleton, Mike Sharp, Jeff Bilberry and Holly Gray, will remain shareholders after the acquisition, Mercer Advisors said.
“My associates and I were at a place where the business had grown significantly, and we knew we could benefit from the expertise of a larger company to help us take it to the next level,” Singleton said in a statement.
The acquisition of HYA Advisors marks the fifth acquisition announced this year by Mercer, a Denver-based RIA led by Dave Welling (pictured) and majority-owned by private equity firms Oak Hill Capital and Genstar Capital. Mercer has $34 billion in assets under management, according to its latest Form ADV filing.
Earlier this year, Mercer announced the purchase of four RIAs based in Florida, Tennessee, North Carolina and Missouri. His latest deal is his second consecutive acquisition of a Missouri RIA. In late March, Mercer acquired Chesterfield, Mo.-based Convergent Wealth Management for $130 million.