Mercer Advisors, the Denver-headquartered registered investment adviser with roughly $110 billion in client assets, has completed its acquisition of NorthAvenue Financial Advocates, a Columbus, Ohio-based firm founded in 2018 by Kristen Moosmiller. The deal is part of Mercer's broader push to deepen its presence across the Ohio Valley, a region where its managed assets have swelled from approximately $100 million in 2019 to more than $2.2 billion today.
NorthAvenue, which Moosmiller has led alongside fellow advisor Stephanie Bailey and a six-person support team, offers investment management and planning services that span tax, trust and estate, retirement, and insurance. The firm's client base includes a significant number of women investors, a segment Mercer has been actively courting through its Women & Wealth unit launched in March. That initiative aims to strengthen the firm's approach to serving women clients and to expand its roster of female advisors.
Ted Motheral, Mercer's executive managing partner of M&A partner development, said the acquisition reflects the firm's deliberate strategy in the Ohio Valley. "NorthAvenue is a great testament to the initiative that we laid out in the Ohio Valley this year to add AUM, and most importantly, add great long-term partners," he said. Motheral, who is based in Cleveland, noted that Mercer has three executives in Ohio: himself, regional partner Chip Workman, and Ben Kautz, executive managing partner of the East Division, who is based in Columbus.
The Ohio Valley region now includes Mercer offices in Cincinnati and Westerville, Ohio; Indianapolis; Pittsburgh; and Lexington and Louisville, Kentucky. Motheral indicated that Mercer's M&A activity in 2026 is tracking at a pace similar to last year, with expectations of completing 15 to 20 acquisitions by year-end. The firm has been one of the most active consolidators in the RIA space, with more than 1,700 employees across 120 locations.
Moosmiller said the deal will allow her team to expand its impact. "As a predominantly women-led team, we've seen firsthand the value of building relationships and planning experiences that resonate with women," she said in a statement. "Joining Mercer Advisors allows us to expand that impact by pairing our approach with deeper resources and specialized capabilities for women investors."
The acquisition comes amid a flurry of RIA dealmaking in the Midwest. Notably, Rockefeller recently recruited a $2.1 billion Merrill team for its Columbus office, underscoring the region's growing appeal. Mercer's move also follows its earlier appointment of a BlackRock veteran to lead its U.S. wealth unit, signaling continued leadership investment.
Mercer's ownership includes private equity firms Oak Hill Capital, Genstar Capital, and Altas Partners. The firm's aggressive acquisition strategy has helped it scale rapidly, and the NorthAvenue deal adds a women-led practice that aligns with its diversity initiatives. As the RIA industry consolidates, Mercer's focus on the Ohio Valley suggests a targeted approach to building density in key markets.
For advisors considering similar moves, the deal highlights the value of specialized client segments and regional focus. Mercer's ability to integrate firms like NorthAvenue while maintaining its growth trajectory will be closely watched by industry observers.
