No commissions, no ads, no advice. This Mercer Advisors profile draws only on public records, each linked so you can confirm it yourself.
---
Check the SEC adviser record. Open the SEC's IAPD record for Mercer Advisors (CRD #147363) and confirm its registration.
Read the filings. Review the Form ADV / Form CRS and any disclosure section linked from the IAPD page.
Confirm the entity. Match CRD #147363 / Mercer Global Advisors so you're reading the right firm.
The short answer: is Mercer Advisors a fiduciary?
Yes. Mercer Advisors is a fiduciary when it acts as your investment adviser, and it reports $84.4 billion in client assets as an SEC-registered investment adviser. Publicly, it files with the SEC as Mercer Global Advisors (CRD #147363). According to its latest Form ADV (filed September 17, 2026), the firm reported $84.4 billion in regulatory assets under management (a firm-reported figure). Its Form ADV (Item 5.E) lists how it is paid: a percentage of assets under management, hourly charges, fixed fees, and other. It's all in the public filings. You can verify every line yourself in just a few minutes.
Its Form ADV also reports that a related person is a broker-dealer (Item 7.A), and brokerage accounts fall under Regulation Best Interest instead. Ask which capacity applies to each account you hold there. The firm must tell you.
What "fiduciary" means: a fiduciary is legally bound to place a client's interests above its own. (More on fiduciary duty)
Mercer Advisors at a glance
✅ Verified from public filings, last checked October 5, 2026. Mercer Advisors (SEC CRD #147363) is a fiduciary when acting as your adviser, on an advisory-fee basis, with $84.4 billion in regulatory assets under management. Every figure below links to its primary source.
What | Mercer Advisors | Source |
|---|---|---|
SEC CRD | #147363 | |
Registration | Investment adviser, with a related person that is a broker-dealer (Form ADV Item 7.A) | |
Registered since | May 30, 2008 (SEC) | |
Fiduciary? | Yes, when acting as your adviser | |
Fee model | Advisory fees (no commissions reported in Item 5.E) | Form ADV Item 5.E |
How it's paid | A percentage of assets under management, hourly charges, fixed fees, and other | Form ADV Item 5.E |
Regulatory Assets Under Management | $84.4 billion (Form ADV filed September 17, 2026) | |
Client accounts | 116,310 (115,337 discretionary) | |
Employees | 1,429 (632 in advisory roles) | |
Ownership | Employee-majority, PE strategic minority | |
Disclosures | Form ADV answers Yes to one or more disciplinary questions. Read them on IAPD | |
HQ | Denver, CO |
---
Mercer Advisors fees: what you'll pay
On Mercer Advisors' fees, the structure is easy to read once you know what to look for. Mercer Advisors charges advisory fees: its Form ADV (Item 5.E) reports no commissions for its advisory services. The filing also discloses broker-dealer, insurance or other sales activity conducted by the firm or an affiliate, work that can generate commission income. We recommend asking how each piece of the relationship gets compensated. The details are in its Form ADV Part 2A.
Clients pay advisory fees straight to the adviser, while any commissions from a related broker-dealer or insurance business come through a separate channel, so a client can't assume the advisory fee is the only way the firm or its affiliates get paid on their account. (What fee-only means, and how to find one) That split makes Mercer Advisors a reasonable fit for someone who wants a single large adviser with $84.4 billion in assets under management handling both planning and investment management, and, because the firm or an affiliate can also earn commissions, not a fee-only relationship; investors who specifically want fee-only should confirm whether any affiliate compensation would touch their account.
Who owns Mercer Advisors, and what conflicts does it disclose?
The public record names the owners directly: Mercer Advisors, the parent of Mercer Global Advisors, is majority owned by its employees: according to a Businesswire release (2025), employee ownership surpassed 50% in June 2025. The remaining equity is held by a strategic investor group that includes Oak Hill Capital, Genstar Capital, and Altas Partners. Because ownership can shift with each transaction, confirm the current cap table against the firm’s latest Form ADV. (Businesswire, Jun 2025)
Its Form ADV Part 2A describes the firm's conflicts of interest, including how it and its advisers are paid.
Mercer Advisors SEC record: disclosures
For Mercer Advisors complaints, the firm's own regulatory filings are the place to begin. Mercer Advisors' Form ADV answers Yes to one or more disciplinary-history questions. Such a disclosure might involve a regulatory, civil or criminal matter tied to the firm or a related person. Before drawing any conclusions, review each item in context on IAPD. Any Mercer Advisors disclosures sit on the public record, not on anyone's characterization of them.
On the record, the firm has been registered with the SEC since May 30, 2008, makes notice filings in 53 jurisdictions, and reports 1,429 employees, 632 of them in investment advisory roles. Some people search "is Mercer Advisors legit?" Registration is easy to confirm: it has a public CRD and public filings anyone can pull. Registration shows it's a real, regulated adviser, not that it's the right fit for you.
Reading Mercer Advisors reviews against the public record
What star ratings and client comments capture is the experience of working with a firm. They usually don't show what the firm reports to regulators. Before you weigh Mercer Advisors reviews, check three things this profile takes from the public record. First, how the firm is paid: it reports advisory fees and no commissions, but it has a broker-dealer or insurance connection. Second, who owns it and what conflicts it discloses. Third, whether its Form ADV reports any disciplinary history. Read reviews alongside the record, not instead of it.
How to verify Mercer Advisors yourself
To confirm it firsthand, follow three steps:
SEC adviser record (IAPD): https://adviserinfo.sec.gov/firm/summary/147363.
Form ADV / CRS: linked from the IAPD page. For the related broker-dealer, search FINRA BrokerCheck.
Confirm the entity: match Mercer Advisors (CRD #147363, legal name Mercer Global Advisors) so you're reading the right firm.
What Mercer Advisors does and who it serves
On its Form ADV, Mercer Advisors reports providing financial planning, portfolio management for individuals, small businesses and institutions, pension consulting, selection of other advisers, newsletters, and educational seminars.
It reports providing financial planning to about 27,443 clients in its last fiscal year (Form ADV Item 5.H). The form counts these separately from the client totals below, and because planning is offered across client types, many of these clients can also appear among the 36,172 counted by type.
According to Item 5.D of its Form ADV (2026), the firm breaks its clients down by type, about 36,172 in all:
Client type | Clients | Assets managed |
|---|---|---|
Individuals | 16,646 | $7.08 billion |
High-net-worth individuals | 18,398 | $70.51 billion |
Pension and profit-sharing plans | 718 | $3.45 billion |
Charities | 166 | $2 billion |
Corporations or other businesses | 244 | $1.35 billion |
It reports 116,310 client accounts, more than the roughly 36,172 clients counted above (many clients hold more than one account), 115,337 discretionary (the firm can trade without seeking your approval first) and 973 non-discretionary (Item 5.F). Its main office is in Denver, CO. That puts more than 99% of its accounts under discretion, so a client's oversight of day-to-day decisions comes almost entirely from reviewing what Mercer Advisors already did, not from approving trades before they happen.
It reports that it or a related person has custody of certain client assets, which brings extra safeguards such as surprise examinations. The specifics are in its Form ADV.
Recent developments at Mercer Advisors
In June 2025, according to the firm's announcement, employee ownership of Mercer Advisors surpassed 50%, a milestone it linked to its growth and culture strategy. Its strategic investor group includes Oak Hill Capital, Genstar Capital, and Altas Partners. (Businesswire, Jun 2025)
---
Confirming the firm is the easy part. Seeing everything you hold is the valuable one.
Confirming Mercer Advisors is registered takes a few minutes, but that's only the easy part. No advisor, however good, sees your whole financial life by default. The held-away retirement plan, a spouse's portfolio and the costs inside a fund show up scattered and unreconciled. This is where Truthifi comes in.
How Truthifi can help
Truthifi links your accounts read-only and shows what you own, how it's allocated, how it's performing and where the risk sits, including single-stock exposure, returns next to a benchmark, a fee breakdown of the fees on each account, by type, and your Truthifi Score. You can share the accounts you choose with your advisor at Mercer Advisors. Comparing firms? Start from the Truthifi advisor fact-pack hub.
Prefer your own AI? A paid Truthifi plan lets you connect an AI assistant that supports MCP sign-in, such as Claude. Truthifi Connect is the lighter membership for people who only want to use their own assistant. Connect covers using your own assistant; to ask it about the fees on each account, you'll need Monitoring or Monitoring Plus+. The pricing page lists what each plan includes. Get started with Truthifi · See how Truthifi keeps your accounts secure
Ask AI about your Mercer Advisors accounts
Once your accounts are connected read-only, you can ask in plain English:
"What do I own across my Mercer Advisors accounts and everything else, and how is it allocated?"
"What am I paying in fees across all of these accounts?"
Try it with Truthifi: start for free at app.truthifi.com and run a Monitoring Checkup (limits apply).
No commissions, no ads, no advice: Truthifi is not an investment adviser and doesn't give investment, tax or legal advice. Its access to your bank and brokerage accounts is read-only. Start free (limits apply). Monitoring Checkup is free. Link up to 10 connections (per Truthifi platform data on the pricing page). Plans and limits are on the pricing page → truthifi.com.
---
FAQ
Is Mercer Advisors a fiduciary? Yes, when acting as your adviser. Its Form ADV reports a related person that is a broker-dealer, and brokerage accounts fall under Regulation Best Interest instead. Ask which capacity covers each of your accounts.
Is Mercer Advisors fee-only? Not necessarily. Its Form ADV (Item 5.E) reports no commissions for advisory services, but the filing also reports broker-dealer, insurance or other sales activity by the firm or a related company, which can be paid differently. Ask how everyone you deal with is paid. The details are in its Form ADV Part 2A.
Who owns Mercer Advisors? Mercer Advisors, the parent of Mercer Global Advisors, is majority owned by its employees: in June 2025 the firm said employee ownership surpassed 50%. The remaining equity is held by a strategic investor group that includes Oak Hill Capital, Genstar Capital, and Altas Partners.
Does Mercer Advisors have complaints or disclosures? Yes. Its Form ADV answers Yes to one or more disciplinary-history questions. Read each item on IAPD, in context. A disclosure is not by itself proof of current wrongdoing.
Is Mercer Advisors legit? Mercer Advisors is registered with the SEC (CRD #147363) and its filings are public on the SEC's IAPD site, which confirms it is a real, regulated firm. Registration doesn't tell you whether it's the right fit or what you'll pay, so read the fee and conflict sections of its Form ADV.
Can AI help me check whether I'm getting good value? Yes. Start free (limits apply): Monitoring Checkup is free and lets you link up to 10 connections. You can also connect an AI assistant you already use (such as Claude). On Monitoring or Monitoring Plus+ you can ask it, in plain English, about the fees on each of your accounts. Truthifi is not an investment adviser and doesn't give investment, tax or legal advice.
---
About this profile
Truthifi built this profile from the firm's own SEC filings (Form ADV and, where filed, Form CRS). Every page is reviewed by the Truthifi Team before publishing. The Truthifi advisor fact packs are an ongoing series checking U.S. investment advisers against their public filings, one firm at a time.
Read next from the Truthifi blog
---
A note on sources. The facts on this page come from publicly available documents, Mercer Advisors' SEC filings, each linked inline so you can verify it yourself (SEC data current as of October 5, 2026). This is general information, not financial or legal advice, and Truthifi is not affiliated with Mercer Advisors. Regulatory records change, so always confirm against the official sources linked above. A filing is a snapshot, not a live feed: the next Form ADV amendment could move any figure here, so the date beside a number matters as much as the number itself. Spot something that should be corrected? Email us at support@truthifi.com.
Disclaimer: This article is for educational purposes only and does not constitute financial, tax, or legal advice. It should not be construed as a personalized recommendation regarding any investment, financial advisor, or financial product. All calculations use hypothetical scenarios and historical return assumptions; actual results will vary. Past performance does not guarantee future results. Consult a qualified financial professional for guidance specific to your situation. Truthifi is an investment monitoring platform — not a financial advisor, broker-dealer, or tax professional. Truthifi does not manage assets, recommend investments, sell financial products, or provide personalized financial advice. Truthifi earns no revenue from advisor referrals, product commissions, or AUM fees. Statistics and data cited reflect publicly available sources current as of the article’s publication date. Sources are linked throughout.