A rare look at Mercer's referrals, revenues and margins
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Roughly 50% of Mercer Global Advisors’ net new client assets in the first two quarters of 2026 came from Charles Schwab’s and Fidelity’s custodial referral networks, according to investor materials viewed by Citywire.
This Week in Wealth discusses how this statistic tallies with a previous claim by the firm’s CEO that custodial referrals are its third-largest source of leads, and explores various data in the materials, including the mega-RIA’s organic growth rate, profit margin, employee ownership and leverage levels.
The team also looks at Focus Financial Partners’ plans to once again make large external deals following a period of internal consolidation. Plus, there’s a bit about baseball.
This Week in Wealth discusses how this statistic tallies with a previous claim by the firm’s CEO that custodial referrals are its third-largest source of leads, and explores various data in the materials, including the mega-RIA’s organic growth rate, profit margin, employee ownership and leverage levels.
The team also looks at Focus Financial Partners’ plans to once again make large external deals following a period of internal consolidation. Plus, there’s a bit about baseball.
