Mercer Global Advisors has purchased another wealth management firm, this one based in Franklin, Tennessee.
HawsGoodwin Investment Management serves 280 clients and manages about $680 million in client money, according to Mercer Advisors. Key areas of focus for HawsGoodwin include protecting clients’ capital and tax optimization, according to a statement released by Mercer Advisors on Wednesday.
The registered investment advisor seeks to expand its client offerings through the Mercer Advisors deal. “I like the fact that through Mercer Advisors we could add to our current model and offer our clients a broader array of services including estate planning, tax analysis and family office services,” said HawsGoodwin co-founder Art Haws, in the statement.
Financial terms of the deal have not been disclosed.
HawsGoodwin is based in Franklin, Tennessee, which is just south of Nashville. Mercer Advisors Vice Chairman David Barton, who led the transaction, cited rapid growth in the Nashville area.
Mercer Advisors has been on a recent buying spree. On Wednesday, the company also announced the acquisition of Cordasco Financial Network, which serves over 400 clients and manages about $510 million, as reported.
Last month the firm announced the acquisitions of New York-based Mirsky Financial Management, which oversees $320 million in client assets, and $250 million Virginia-based RIA firm Precipio Wealth Management, as reported.
In November Mercer announced the purchase of $1.3 billion Atlanta, Georgia-based RIA firm ACG Wealth. In October the company added Dallas-Fort Worth area Lake Point Wealth Management, a $700 million RIA, as reported.
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