Mercer signs paperwork on Evaluation Association acquisition

New York-based wealth management consulting firm Mercer has completed its acquisition of a portion of Evaluation Associates, signing off on the buyout for an undisclosed amount of money.

Investment consulting leader Jeff Schutes said that the acquisition of the Norwalk, Connecticut-based company will further strengthen Mercer's stateside consulting services.


"Mercer is committed to the investment business and is pursuing a strategy to increase our US market share both through organic growth and acquisition," Schutes added. "Mercer is investing in its business at a time when clients are demanding greater resources and depth of expertise from their investment consultants."

Evaluation Associates, which has assets under advisement of approximately $200 billion, has been ranked the 17th largest consulting firm in the world, according to Greenwich Associates.

This is the second acquisition of an investment consulting firm by Mercer this year. In January, the company completed its buyout of Hammond Associates.

Mercer currently has assets under advisement of more than $3.5 trillion. With offices around the world, the company employs approximately 20,000 people with services that include international consulting, mergers and acquisitions and compensation management.