Mercer Global Advisors Inc., a national registered investment adviser majority owned by both Oak Hill Capital and Genstar Capital, has acquired Lake Point Wealth Management LLC dba Lake Point Advisory Group, a wealth management firm located in Dallas-Fort Worth, Texas. Lake Point serves clients with assets under management / advisement of approximately $700 million.
Lake Point founder Reid Johnson stated, “We are a fast-growing firm, and we needed the scale and advisor support necessary to onboard the strong stream of clients we add each month. A friend of mine, Brad White, Founder and CEO of Epstein & White, a firm that Mercer acquired in March of 2021, mentioned I should talk to Dave Barton at Mercer Advisors to learn more about them. I did meet with Dave Barton, many times, and was very impressed with their family office business model and the opportunity to offer my clients additional services like in-house estate planning, tax return preparation and corporate trustee services. Most importantly, however, was their ability to better resource my operation and take over those back-office activities that drained our resources. I knew I had found the right home for my clients, my staff and for me; providing me the opportunity to do full time what I love doing ~ marketing and driving new client flow. This is a great business combination for all concerned. I couldn’t be happier.”
David Barton, Lake Point vice chairman, who led this transaction on behalf of Mercer Advisors added: “Reid is a marketing genius, a growth savant. His skill sets in building multichannel marketing strategies are rare and as excited as he is to join us, we are just as excited to add his expertise to our marketing platform. Our combination is perfectly complementary.”
Dave Welling, chief executive officer of Mercer Advisors said, “Reid has built an impressive multi-location business and is growing quickly. This acquisition brings together the strengths of our two organizations and builds a solid platform for future growth. Further, Reid has assembled a strong team adding to our already deep bench in Texas. This is the type of talent we seek to add to our team, and we look forward to offering expanding services to help better serve the current and future Lake Point clients.”
Park Sutton Advisors LLC served as exclusive financial advisor to Lake Point Wealth Management LLC.