Mercer Advisors has acquired Murray & Co. and Pinnacle Investment Management.
Based in Austin Murray & Co. was founded in 1999 by Dean Murray and has since grown to assets under management (AUM) of $85 million. The firm's clients include high net worth individuals and families, endowments, non-profit foundations and corporate pension funds. Mr. Murray and his team will be joining Mercer.
Mercer has been active in Texas, last year merging with Houston-based Kanaly Trust and acquiring Dallas-based Pegasus Advisors. The two transactions helped to quickly establish Mercer's strong presence in the state with over $2 billion of combined AUM.
And recently Mercer Advisors acquired Pinnacle Investment Management.
Pinnacle is a comprehensive investment management and financial planning firm located in the greater Hartford, Conn.-area providing wealth management services to individuals and institutions around the globe. Pinnacle has more than $180 million in AUM.
Pinnacle Founder and CEO John Eckel and his entire team will be joining Mercer.
The firm has previously been named to Worth Magazine's list of Top Financial Advisors and Bloomberg Wealth Manager's list of Top Wealth Managers.