Mercer Advisors Bolsters Family Wealth Service Offering by Launching Insurance Solution

PR Newswire

DENVER, Oct. 21, 2020 /PRNewswire/ -- Mercer Global Advisors Inc. (Mercer Advisors), a full-service wealth management firm and one of the largest independent Registered Investment Advisers ("RIAs") in the U.S., today launches a new innovative insurance solution as part of its Family Wealth Service Offering, filling a key client need and gap in the market.

Insurance expands Mercer Advisors' holistic suite of services to help clients with their entire wealth plan, and offers individuals and families the ability to protect their assets and accumulate wealth by adding insurance solutions – something that is currently a fragmented and cumbersome process for individuals and their advisors to manage alone.

"Mercer Advisors acts as a fiduciary for our clients and we felt there was a critical need to take a more proactive role in helping our clients identify and execute insurance solutions that meet their needs and are more tightly linked to their financial plan," stated Jeremiah Barlow, EVP and Head of Family Wealth Services at Mercer Advisors. "Our new Insurance Solutions Group will be comprised of specialists with expertise in insurance and be chartered to act as an advocate for our clients in a way that is consistent with the fiduciary standards that Mercer Advisors has always been held accountable to since we were founded over 35 years ago."

In order to truly provide comprehensive financial planning services, advisory firms need to deliver on all six aspects of the financial planning process, as defined by the CFP Board of Standards¹:

Basics of Financial Planning
Retirement Savings & Income Planning
Risk Management & Insurance Planning
Investment Planning
Tax & Estate Planning
Education Planning

Historically, many firms in the independent advisory industry delivered on 5 of these 6 areas, with Insurance Planning a traditional gap in the offerings of independent RIAs, due to the unique regulatory and product nature of providing insurance solutions. While many RIAs and financial planners list insurance and risk management as services they provide, they typically do not have specialists on staff and most often refer clients out to third parties with no insight or control over the client experience.

With the launch of Mercer Advisors Insurance Solutions, the firm will now be able to deliver on all aspects of the financial planning process, significantly differentiating Mercer Advisors' level of advice, guidance, and support in the wealth management industry. The Mercer Advisors Insurance Solutions offering is supported by insurance specialists and will utilize a network of vetted strategic partners. The new offering includes comprehensive insurance services, from an initial risk assessment to determine coverage against financial goals, to product recommendations, and hands-on assistance throughout the entire underwriting and implementation process. The solution is insurance company-agnostic, ensuring provider recommendations are based on rigorous analysis in line with a client's personal financial plan. All major insurance lines are available, including life, disability, long-term care, home, natural disaster, travel, valuables, and cyber.

"We are taking this step based on feedback from our clients who are asking us to step in and play a more proactive role," added Barlow. "As a way to meet the evolving needs of our clients, we've created a clear, transparent and hassle-free insurance offering that can be integrated into a holistic financial plan. This is a critical addition to our offering because clients want the peace of mind that their family and assets are protected in a way that is inclusive of their broader financial goals, but they also need to simplify their lives. We are excited to be able to solve this market problem and make the process seamless."

This new Insurance Solutions offering provides clients with a one-stop shop for their financial wellness needs. By integrating insurance options across the holistic wealth service offering, Mercer Advisors is providing clients the flexible solutions they require from their financial partners in today's rapidly changing environment.

Terry Bobo, Director of Insurance Solutions at Mercer Advisors added, "There are countless insurance providers out there for each specific category, so navigating the process can be a minefield. As a result, some clients risk being underinsured, and others end up with offerings that do not support or complement their overall wealth management plan. By adding a new additional dimension to traditional financial planning, we're giving our clients the freedom to leave insurance in the hands of their trusted financial advisors to coordinate with insurance specialists. This gives them peace of mind that they're getting a customized service and have all their financial needs taken care of in one place."

About Mercer Advisors
Established in 1985, Mercer Global Advisors Inc. ("Mercer Advisors") is a full-service wealth management firm that specializes in providing investment advice, financial and estate planning, and taxes, and corporate trustee and trust administration services. It is one of the largest Registered Investment Advisers and financial planning firms in the U.S. with over $20 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 440 employees, and operates nationally across the country with 40+ locations. Mercer Advisors, Inc. is a parent company of Mercer Global Advisors Inc. (RIA), majority owned by both Oak Hill Capital and Genstar Capital. Mercer Global Advisors has a related insurance agency. Mercer Advisors Insurance Services, LLC (MAIS) is a wholly owned subsidiary of Mercer Advisors Inc. Employees of Mercer Global Advisors serve as officers of MAIS. For Mercer Global Advisors clients who wish to purchase insurance products, MAIS has entered into a non-exclusive referral agreement with Strategic Partner(s). More information about MAIS and our Strategic Partners may be found in our Form ADV 2A. For more information, visit www.merceradvisors.com.