Published On: Wed, Jul 1st, 2020

Lion Street acquires Mercury Financial to expand in institutional market

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Lion Street, a Texas-based financial services company, has acquired Mercury Financial Group, a provider of wealth planning and insurance solutions to financial advisors for high net worth clients, for an undisclosed price.

The acquisition is expected to help Lion Street continue to realize its vision to be the leading distributor of life insurance to high-net-worth and business clients.

Established in 2005 by Steve Taber, CEO, Mercury Financial Group is a provider for major Wall Street-based firms, banks, accounting practices, family offices, and registered investment advisors.

The Dallas-based company is said to comprise top-tier consultants who lead the industry in insurance and boast of sophisticated planning expertise. Its acquisition is said to empower Lion Street to consolidate its position in the institutional market.

Commenting on Lion Street acquisition of Mercury Financial, Bob Carter – Founder and CEO of Lion Street, said: “The Institutional market has been served by the same distributors for several years with no new entrants.

“Mercury stood out above the rest as a quality firm. When combined with our experienced team and capital, we will bring a new energy and fresh ideas. This will allow us to quickly become a dominant player in a space underserved by a quantity versus quality approach.”

Lion Street, on the other hand, offers elite life insurance advisors access to the financial products, intellectual capital, and specialized resources they require for addressing the sophisticated needs of their high-net-worth and corporate clients.

Steve Taber said: “Mercury is excited to begin a new era with Lion Street. There is significant alignment in the leadership vision of our companies, we both meticulously have built and guard our reputations in the industry, and have a very similar style, providing a tremendous opportunity to take a new and fresh approach to this marketplace.”

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