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PE-backed Mercer Advisors acquires Precipio Wealth Management

Mercer Global Advisors (Mercer Advisors), a national Registered Investment Adviser (RIA), has acquired Precipio Wealth Management (Precipio), a wealth management firm located in McLean, Virginia. 

Precipio serves clients in 19 states with assets under management (AUM) of approximately USD250 million. Precipio was founded as a fee-only RIA in 2009 by Edgar L Parrish, Managing Principal, CFP, CIMA, AIF, and Katherine M Parrish, Managing Principal, CIMA, AIF. Precipio offers comprehensive financial planning and portfolio management to high-net-worth individuals, families, trusts, and retirement plans, with a practice that stretches back to the 1970’s. Precipio’s entire team will be joining Mercer Advisors.
Edgar Parrish says: “Precipio is dedicated to serving our clients in a fiduciary manner. As fiduciaries, it’s incumbent on us to ensure our clients are well taken care of, both now and for generations to come. While we have no present intentions to retire, we are at that stage when succession planning is top of mind. Katy and I searched to find a partner that was a cultural fit and would ensure continuity, and Mercer Advisors’ end client focus was a clear differentiator for us. We discussed business succession planning with David Barton, Vice Chairman, head of mergers and acquisitions at Mercer Advisors, undertook due diligence, and the rest is history.” 
Co-Founder Katherine M Parrish adds: “In our meetings with Dave Barton and other management, it was very important to us that we find a partner that reflected our values, and it was clear we all shared a deep commitment to the fiduciary model and putting clients’ interests first. We also wanted to be sure our staff was not only retained, but also have career development opportunities, and Mercer Advisors does that. The fact that Mercer Advisors can take over our back-office responsibilities, ever-increasing compliance duties, and offers in-house family office services such as estate planning, trust administration, and tax were also driving factors in making our decision to join the Mercer Advisors team. We couldn’t be more excited.”
David Barton, Vice Chairman who led this transaction on behalf of Mercer Advisors, adds: “Edgar and Katy are quality people, highly credentialed and seasoned professionals who have a long history of serving their clients as advisors with dedication along with the service administrators. In our business, you are only as good as your talent, and our industry is starving for talent. With Edgar, Katy and their team joining Mercer Advisors, we are adding highly talented people to the firm. This business combination is a win for both parties, the clients, and staff, bedrock for any successful transaction.”
Dave Welling, Chief Executive Officer of Mercer Advisors, says: “Edgar and Katy have built a great business and are highly respected wealth management professionals along with their team. The Precipio team will add to our already strong presence in Virginia and the Mid-Atlantic region. This is the type of talent we seek to add to our firm, and we look forward to offering expanding services to their clientele for years to come.”

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