Arbor Asset Management, an Ann Arbor wealth management firm, has been acquired by Mercer Global Advisors Inc. of Denver, Colo. for undisclosed terms.
The addition of Arbor’s office in Ann Arbor expands Mercer Advisors’ footprint in Michigan to three offices, which includes Detroit and Traverse City. It also adds to its Midwest presence that includes Chicago, Onalaska Wisc., Columbus Ohio, and Omaha, Neb.
“The criteria I had in seeking a partner was, first, we needed to share core values regarding clients and people,” says Neil Paolella, president of Arbor Asset Management. “Second, I wanted to offload back office responsibilities and needed to know they would be managed at the highest level.
“Third, it was important to me that my team had career path opportunities with our new partner. After meeting with Dave Barton, Mercer Advisors’ vice chairman, and the team, I was convinced that my criteria had been met and exceeded.”
Dave Welling, CEO of Mercer Advisors, says Arbor Asset Management is an attractive business in a dynamic and growing market.
“Arbor shares our commitment to excellence and high professional acumen, matched by equally high integrity, resulting in superior client satisfaction,” he says. “Arbor’s team, led by Neil, are fantastic additions to our organization and deepens our talent in the Michigan market.”