Mercer Investments is only one of several investment consulting firms restructuring its business or consolidating as the investment landscape evolves.
Boston-based Cambridge Associates LLC laid off 3% of its workforce in the investment staff, performance reporting and data collection areas the week of March 6 to focus on its asset management capabilities.
In January, Innovest Portfolio Solutions, a Denver-based investment consulting firm, acquired boutique investment consulting firm Seven Two Partners. Innovest CEO Richard Todd said in a news release announcing the deal that the acquisition would enable the firm to grow its research capabilities.
Also in January, Segal Rogerscasey acquired Marco Consulting Group, creating Segal Marco Advisors, a new firm with more than 150 professionals serving more than 400 clients with advisory assets exceeding $500 billion. Tim Barron, Segal Marco Advisors chief investment officer, told Pensions & Investments in September, when the deal was first announced, that the acquisition would help Segal increase its presence in the multiemployer market.
Last year, Pavilion Financial in October acquired investment consulting firm Jeffrey Slocum & Associates. Through this deal, Slocum brought to Pavilion a specialized insurance practice, while Pavilion brought to Slocum a specialized defined contribution practice. The combined team allows for expanded and enhanced services to health care, insurance, retirement, endowments and foundations, and other clients.
In January 2016, consulting firms Verus Advisory Inc. and Strategic Investment Solutions Inc. merged to become Verus. The merger helped Verus expand its private equity capabilities as well as gain presence in the large public fund market, while Verus gave SIS a presence in the Taft-Hartley market.
This article originally appeared in the March 20, 2017 print issue as, "Mercer not only consultant changing with the times".