Barron's Advisor Dave Welling: How Mercer’s M&A Push Made It a $70 Billion Juggernaut
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Aug 5, 2025 Dave Welling, CEO of Mercer Advisors, reveals how his company transformed into a $70 billion powerhouse through an innovative acquisition strategy. He sheds light on the importance of cultural compatibility and shared values in selecting partners. Welling emphasizes the need for a client-centric approach and strong relationships in the advisory industry. He also discusses the benefits of employee equity ownership in fostering motivation and teamwork, making a compelling case for growth through collaboration.
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Mercer's Growth Journey
- Dave Welling joined Mercer Advisors in 2017 with under $10 billion in assets under management.
- Since then, Mercer grew its assets seven-fold to about $70 billion through partnerships and daily client focus.
Partnerships Built on Values
- Mercer seeks partnerships based on shared vision and values, not geographic focus.
- Core values include fiduciary duty and client-centricity above location.
What Sellers Really Want
- Sellers often seek more client services and career growth opportunities for their teams through M&A.
- They want a partner who shares their values to relieve firm management burdens.