Next Mile
The Secret to Mercer Advisors’ 100 Partnerships & Growth-Driven Success
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Episode 100: On this week’s episode of Next Mile, I speak with Dave Welling, CEO of Mercer Advisors. With over 25 years of experience in wealth management, Dave has an extensive track record of serving clients and helping businesses and people define and achieve the next level of success.
We unpack the human side of Mercer’s incredible growth story, reflecting on how the firm’s partnerships have fueled its scale and shaped its culture. From his unlikely entry into the RIA space to overseeing 95+ acquisitions since 2017, Dave shares insights on staying purpose-driven, maintaining empathy, and choosing growth as an integral part of an organization’s DNA.
Key Takeaways
When pursuing mergers or acquisitions, focus on integrating new teams into the existing structure rather than simply aggregating entities. The goal should be to enhance capabilities, improve client experiences, and create synergistic opportunities for all involved.
Before a transaction, engage in deep conversations with potential partners to understand their current challenges, unfulfilled opportunities, and aspirations. Help them determine if a partnership genuinely aligns with their long-term goals and will lead to a better future for their clients and team.
View technology as an enabler for scaling your operations and ensuring consistent service delivery. Before implementing new tech, standardize your core processes. Then, invest in platforms that not only support current operations but also allow for significant future growth.
Quotes
“Growth is part of our DNA. Growth is part of our culture. And the people that thrive here are interested in growing in some way.” ~ Dave Welling
“The healthiest thing you can do for talented individuals of any age, at any stage of their careers, is provide an environment of growth so people can carve a path and jump into that next opportunity.” ~ Dave Welling
“Growth isn’t just adding assets, adding clients, and getting a bigger AUM number. Growth is just progress.” ~ Dave Welling
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Kyle Van Pelt