Clear communication is essential in family business governance, yet shared definitions are often overlooked. That’s why the UHNW Institute’s new Wealthesaurus caught our attention. This online glossary brings clarity to the complex vocabulary of family wealth and enterprise conversations. This resource also provides standardized definitions of common and specialized family wealth advising industry terms. For directors, it’s a valuable reference that supports informed decision-making and...| Mercer Capital
Private equity continues to reshape the RIA landscape in 2025, fueling record deal activity and driving consolidation at an unprecedented pace. With 132 transactions in the first half of the year totaling $182.7 billion in AUM, PE-backed firms now account for more than half of all acquirers. Their disciplined “buy-and-build” strategies, focus on scalability, and willingness to pay strategic premiums are redefining ownership dynamics and valuations across the sector. For RIA owners, aligni...| Mercer Capital
At Hart Energy’s 2025 A&D Strategies and Opportunities Conference in Dallas, two central themes emerged: the maturation of Tier 1 U.S. shale inventory and diverging dynamics between private and public players in dealmaking. The conference highlighted the evolving dynamics of the U.S. upstream oil and gas market. With Tier 1 shale assets maturing, private and public participants are behaving differently, and deal strategies have become more selective. Read more in this week's post.| Mercer Capital
Clear communication is essential in family business governance, yet shared definitions are often overlooked. That’s why the UHNW Institute’s new Wealthesaurus caught our attention. This online glossary brings clarity to the complex vocabulary of family wealth and enterprise conversations. This resource also provides standardized definitions of common and specialized family wealth advising industry terms. For directors, it’s a valuable reference that supports informed decision-making and...| Mercer Capital
In August 2025, the U.S. auto industry slowed as the SAAR of 16.1 million units represented a 2.9% decrease from the prior month. However, the trend of year-over-year increases continued, as eleven of the past twelve months have beat the prior year, with a 6.2% increase from August 2024. The August 2025 performance is particularly impressive given the inflated baseline from the previous year’s CDK software outage that shifted sales into July and August 2024. Read more in this week's post.| Mercer Capital
The One Big Beautiful Bill Act (OBBB) brings sweeping changes to the U.S. oil and gas industry. By revising tax rules, restoring leasing predictability, and lowering royalty rates, the Act reshapes project economics and carries significant implications for valuation and long-term investment.| Mercer Capital
Independent trust companies are in short supply compared to the thousands of RIAs, yet demand for their capabilities is rising. For wealth managers, acquiring trust services enhances client retention, attracts larger and more complex relationships, and secures multigenerational ties. This supply–demand imbalance suggests trust companies may carry a real “scarcity value” in today’s market.| Mercer Capital
Estate planning for business owners sometimes coincides with a potential sale of the business. How should estate planners approach valuation in this uncertain environment, and what does the IRS expect? This webinar walks estate planners through the valuation complexities of transferring the business or interests in the business during an M&A process.| Mercer Capital
In Part II of our buy-sell agreement series, we dive into three real-world scenarios where independent appraisers play a critical role in resolving disputes, facilitating fair buyouts, and mitigating litigation risks for family-owned businesses. From valuation deadlocks to triggering events and shareholder conflicts, see how independent valuations can protect both your company’s legacy and shareholder relationships.| Mercer Capital
Karolina Calhoun, CPA, ABV, CFF, Senior Vice President, and David W. R. Harkins, CFA, CPA, ABV, CFF will present the session "Getting Personal with Personal Goodwill. In addition, Z. Christopher Mercer, FASA, CFA, ABAR, Chairman, will address "The Future of the Business Valuation Profession."| Mercer Capital
Jeff Davis, CFA, Managing Director, will participate on the panel “Beyond CRT – Credit Insurance as a Tool for U.S. Regional Banks” at SCI’s Regional Bank-CRT Forum in New York on September 10, 2025.| Mercer Capital
In the late spring of 2015, Brooks Hamner and I were having lunch and started talking about creating a blog to explore what we were seeing regarding valuation and advisory projects in the RIA space. The big question was not whether we could start it, but whether we could keep it going. Most blogs start strong for a few months and then kind of fade out. When we got back from lunch, I pulled up a Word doc and Brooks and I started brainstorming topics. In a few minutes, we had several dozen idea...| Mercer Capital
Third-party business valuations provide an unbiased, data-driven assessment of a company’s worth, helping owners and directors make informed financial and strategic decisions. By combining structured methodologies with expert judgment, independent appraisals deliver the objectivity needed for transactions, tax planning, disputes, and other critical business events. In this post, we explore why third-party valuations matter and what to expect from the appraisal process.| Mercer Capital
Independent trust companies are gaining momentum in 2025, offering high-net-worth clients flexible, client-focused solutions outside the constraints of traditional banks. As the $68 trillion Great Wealth Transfer accelerates, these firms stand out for their personalized services, regulatory agility, and tech-driven client experience—positioning them as key players in the evolving wealth management landscape.| Mercer Capital
In this week's post, we cover what auto retailer executives had to say during the Q2 2025 earnings calls. We noted three major themes from last quarter’s calls, which we detail below: tariffs, acquisitions, and fixed operations.| Mercer Capital
Mercer Capital has its finger on the pulse of the minerals market. The most recent Mineral Aggregator Valuation Multiples Study is now available.| Mercer Capital
As directors of private family businesses, you’re no strangers to the delicate balance of maintaining harmony among shareholders while safeguarding the company’s long-term stability. In this week's post, we dive into a related but often overlooked tool: buy-sell agreements. These agreements act as a safety net, ensuring smooth transitions when life throws curveballs, such as a shareholder’s departure, death, or divorce.| Mercer Capital
Q2 2025 earnings calls reflected an industry still guided by discipline but open to opportunity. OFS providers and E&P companies alike reiterated their focus on returning capital to shareholders and preserving balance sheet strength, while also pointing to selective international and offshore growth initiatives. The result is a sector cautious about near-term pricing and activity levels in North America, yet strategically positioning for selective long-term expansion. Read more in this week's...| Mercer Capital
In the investment management world, evaluating a firm’s margin isn’t as simple as “more is better.” For RIAs, margin reflects efficiency, but it also reflects the firm’s tradeoffs with compensation.| Mercer Capital
Mercer Capital is pleased to announce that two professionals have been promoted to Senior Financial Analyst: Koby S. Allen and Luke Tanner.| Mercer Capital
A few weeks ago we released our newest booklet, “Dividend Policy in 30 Minutes.” Whether you read the digital copy, requested a physical booklet, or haven’t gotten a chance to look at it yet, in this short video Travis Harms explains how to go about the decision-making process regarding distribution and why considering various shareholder characteristics and business attributes matters. Travis highlights how the balance between shareholder certainty and board discretion can foster a bet...| Mercer Capital
The Dallas Fed Q2 Energy survey highlighted the growing uncertainty and continued pessimism in management sentiments across the sector. Given the concerns shared about the future of the oil and gas markets, it is more important than ever for a potential seller to be able to provide potential buyers with a clear picture of the company’s capacity for generating cash flows. In this week's post, we highlight the value of a Quality of Earnings (QofE) analysis in the transaction process.| Mercer Capital
In the ever-evolving wealth management sector, we see RIAs exploring ways to bolster their competitive edge, long-term sustainability, margin, and valuation. An increasingly common strategy involves integrating family office services, which extend core asset management to include comprehensive tax optimization, estate planning, philanthropy coordination, and lifestyle management. This often manifests as a multi-family office (MFO) model, serving multiple ultra-high-net-worth (UHNW) clients un...| Mercer Capital
The July 2025 SAAR came in at 16.4 million units, up 7.1% from last month and up 3.7% from July 2024. It is important to note that this modest year-over-year gain requires a bit more context due to irregularly high sales this time last year. Looking forward, Mercer Capital expects the August 2025 SAAR to end up near the June 2025 SAAR. As tariff-related uncertainty persists, it is likely that supply chain, sales volumes, profits, and blue sky multiples will remain under pressure in the coming...| Mercer Capital
Our family business advisory practice is focused on three strategic financial questions that weigh on family business directors.| Mercer Capital
This week, we explore a PE strategy that might be worth considering for some family businesses: dividend recapitalization.| Mercer Capital
As much as they may not want to be, family businesses are not immune to the trends affecting private equity.| Mercer Capital
A well-structured succession plan not only enhances the firm’s operational stability and scalability but also increases its attractiveness to potential buyers. Buyers are not merely acquiring existing…| Mercer Capital
Cash flows, risk and return, and growth are helpful frameworks for evaluating expectations for your family business in uncertain times.| Mercer Capital
Energy companies depend on Mercer Capital’s industry knowledge and experience to help navigate the ongoing changes in the energy environment.| Mercer Capital
Timothy K. Bronza is a Managing Director with Mercer Capital. Tim has been involved in valuing business interests for over 25 years for a variety of purposes, including federal gift…| Mercer Capital
Mercer Capital is pleased to announce the acquisition of Business Valuation Analysts, LLC, recognized experts in the valuation of privately held business interests for federal estate, gift…| Mercer Capital
At this year’s NARO National Convention Mercer Capital’s Bryce Erickson, ASA, MRICS and David Smith, CFA, ASA had the privilege of attending.| Mercer Capital
Timothy R. Lee, ASA will attend The ESOP Association’s 2024 Employee Owned Conference on November 13-15, 2024 in Las Vegas, Nevada.| Mercer Capital
Mercer Capital’s Timothy R. Lee, ASA to present alongside L. Paul Hood, Jr., J.D., LL.M in an upcoming Business Valuation Resources webinar on November 12, 2024.| Mercer Capital
Mercer Capital is proud to sponsor and attend the 2024 D CEO Energy Awards on October 29, 2024 in Dallas, Texas. Representatives from Mercer Capital’s oil and gas industry team be attending.| Mercer Capital
Mercer Capital provides investor relations services to family and closely held businesses and works with senior management and boards of directors to assist in strategic financial planning…| Mercer Capital
Auto retailer executives discussed the CDK cyberattack, inventory management, consumer affordability, and hybrid vehicles on the Q2 2024 earnings calls.| Mercer Capital
This blog provides corporate finance and planning insights to multi-generational family businesses directors.| Mercer Capital
Coming off a run of economic data releases in the last few weeks, we take a look at the numbers and some of their implications for the broader economy.| Mercer Capital
Volatile times are never easy to navigate, but there are strategies family business directors keep their business on course.| Mercer Capital
In this week’s post, we examine current trends impacting independent trust companies.| Mercer Capital
Last week, the consumer-price index decreased slightly from May, resulting in a year-over-year inflation measure of 3%.| Mercer Capital
The trend towards PE reveals implications for liquidity management, echoing the challenges that family business shareholders have long encountered.| Mercer Capital
Mercer Capital’s Energy Valuation Insights blog is a weekly update on issues important to the Energy industry.| Mercer Capital
Navigating the complexities of estate taxes and wealth transfer can be daunting, with sunsetting provisions that could affect your financial planning.| Mercer Capital