The acquisition was driven, in part, by Mercer's acquaintance with the firms' defined contribution consulting talent, said Rich Nuzum, president of Mercer's global wealth business, in an interview. (Photo: Shutterstock)
Mercer's announced acquisition of Canadian-based Pavilion Financial Corporation and St. Louis-based Summit Strategies Group will augment the firm's alternative asset, not-for-profit, and wealth management consulting capabilities.
Pavilion's $685 billion in assets under management made it the 13th largest investment consultancy in 2017. Summit's AUM was $160 billion at the end of 2017. In a release, Mercer cited the strength of Pavilion's alternative asset consulting capabilities and its Canadian private wealth management business, and Summit's reach in the not-for-profit space.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
