FUNDRAISING NEWS | September 05, 2024
Mercer Global Advisors has acquired Benchmark Wealth Management, a firm based in Old Lyme, Connecticut, which offers holistic financial planning and wealth management to high-net-worth professionals and retirees. Benchmark was founded in 2007 by principals Richard (Rick) Stout III and Thomas (Tom) Britt, both CFPs, who merged their separate practices after meeting during their MBA studies. The firm serves over 300 clients, managing approximately $412 million in assets.
This acquisition marks Mercer's fourth announced deal of the year and its first since March.
Britt began his career as a broker with American Express Financial Advisors in 2000 and later moved to Merrill Lynch, before working at Wells Fargo from 2007 to 2016. He briefly worked at Greenwich Wealth Management before establishing Benchmark as a stand-alone RIA in 2016. Stout's career followed a similar path, starting as a broker at UBS Painewebber, transitioning to RBC, and working at Wells Fargo and Greenwich Wealth Management. Both Stout and Britt share a background in investment advising and brokering, making them experienced professionals in the wealth management industry.
To view the press release, click here.
John Washington is the Data Research Analyst at Dakota.
