Mercer has completed the acquisition of London-based investment advisory and model portfolio service (MPS) provider Fundhouse.

The acquisition agreement was first announced in June and does not include Fundhouse’s South African business.

Mercer, which is part of Marsh McLennan, said the purchase strengthened its capabilities and enabled it to broaden its wealth management presence in the UK.

Fundhouse and its clients have gained access to Mercer’s support, including its UK-wide presence and global investment research.

Following the completion of the acquisition, Fundhouse colleagues will join Mercer.

“Completion of this deal strengthens our proposition in the UK wealth management sector,” said Mercer UK CEO, Benoit Hudon.

“It means we can use our combined capabilities to bring exciting new opportunities and ideas to our clients. We are delighted to welcome Fundhouse colleagues to Marsh McLennan.”

Also commenting on the deal, Fundhouse CEO and chief investment officer, Rory Maguire, said: “I am excited by the opportunities this deal brings.

“Together, with our combined focus on deep research and excellent client service, we can continue to provide our clients with fresh perspectives and excellent outcomes.”

This article originally appeared on our sister title, Wealth Investment News.

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