{
  "crd_number": 133449,
  "slug": "mercer-investments-llc-boston-ma-133449",
  "primary_business_name": "MERCER INVESTMENTS LLC",
  "legal_name": "MERCER INVESTMENTS LLC",
  "dbas": [
    "MERCER INVESTMENT ADVISERS LLC",
    "MERCER INVESTMENTS",
    "MERCER INVESTMENTS LLC (DELAWARE)",
    "MERCER INVESTMENTS LLC OF DELAWARE",
    "MERCER INVESTMENTS LLC, A LIMITED LIABILITY COMPANY OF DELAWARE"
  ],
  "city": "Boston",
  "state": "MA",
  "country": "United States",
  "cbsa_code": "14460",
  "metro": {
    "cbsa_code": "14460",
    "common_name": "Boston",
    "msa_name": "Boston-Cambridge-Newton, MA-NH",
    "path": "/advisors/ma/boston"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2005-01-03",
  "years_registered": 21,
  "period": "2026-10-01",
  "filing_date": "2026-08-11",
  "carried_forward": false,
  "raum_total": 226040693134.0,
  "raum_discretionary": 220286617428.0,
  "raum_non_discretionary": 5754075706.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 714,
  "advisory_employees": 662,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 1857901242.0,
      "count": 20,
      "description": "VEBA"
    },
    "charitable": {
      "raum": 62558337474.0,
      "count": 1034
    },
    "state_municipal": {
      "raum": 483529042.0,
      "count": null,
      "fewer_than_5": true
    },
    "insurance_companies": {
      "raum": 347125442.0,
      "count": null,
      "fewer_than_5": true
    },
    "investment_companies": {
      "raum": 11018569689.0,
      "count": 6
    },
    "pension_profit_sharing": {
      "raum": 139869562560.0,
      "count": 312
    },
    "pooled_investment_vehicles": {
      "raum": 9887879313.0,
      "count": 35
    },
    "corporations_other_businesses": {
      "raum": 15500874.0,
      "count": null,
      "fewer_than_5": true
    },
    "sovereign_wealth_foreign_official": {
      "raum": 2287498.0,
      "count": null,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "other",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "educational_seminars",
    "other",
    "pension_consulting",
    "periodicals_newsletters",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 1,
  "states_registered": [
    "AK",
    "AL",
    "AR",
    "AZ",
    "CA",
    "CO",
    "CT",
    "DC",
    "DE",
    "FL",
    "GA",
    "HI",
    "IA",
    "ID",
    "IL",
    "IN",
    "KS",
    "KY",
    "LA",
    "MA",
    "MD",
    "ME",
    "MI",
    "MN",
    "MO",
    "MS",
    "MT",
    "NC",
    "ND",
    "NE",
    "NH",
    "NJ",
    "NM",
    "NV",
    "NY",
    "OH",
    "OK",
    "OR",
    "PA",
    "PR",
    "RI",
    "SC",
    "SD",
    "TN",
    "TX",
    "UT",
    "VA",
    "VI",
    "VT",
    "WA",
    "WI",
    "WV",
    "WY"
  ],
  "websites": [
    "https://linkedin.com/showcase/mercer-investments",
    "https://mercer.com/en-us/insights/investments"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/133449",
  "disclosure_items": [
    {
      "item": "11.H(2)",
      "question": "Is the firm or an advisory affiliate now the subject of a civil proceeding that could result in a yes answer to any part of 11.H(1)?"
    }
  ],
  "city_as_filed": "BOSTON",
  "url": "https://advisorcensus.com/firm/mercer-investments-llc-boston-ma-133449",
  "display_name": "Mercer Investments LLC",
  "summary": "Mercer Investments LLC is an SEC-registered investment advisory firm in Boston, MA, registered since 2005, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 11, 2026.",
  "citation": "AdvisorCensus. Mercer Investments LLC (CRD 133449): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)",
    "Performance-based fees",
    "Other"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Pension consulting services",
    "Selection of other advisers (including private fund managers)",
    "Publication of periodicals or newsletters",
    "Educational seminars/workshops",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Mercer Investments LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Mercer Investments LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); performance-based fees; other."
    },
    {
      "q": "Where is Mercer Investments LLC located?",
      "a": "Mercer Investments LLC's principal office is in Boston, MA, according to its Form ADV; the September 2026 filing also lists 25 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Mercer Investments LLC registered with the SEC or a state?",
      "a": "Mercer Investments LLC is an SEC-registered investment advisory firm, registered since 2005. Status as filed: Approved. CRD 133449."
    },
    {
      "q": "How much does Mercer Investments LLC manage?",
      "a": "Mercer Investments LLC reports $226,040,693,134 in regulatory assets under management in its Form ADV filing dated August 11, 2026 (97% discretionary)."
    },
    {
      "q": "How have Mercer Investments LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Mercer Investments LLC: Regulatory assets under management: $133,101,361,411 in the October 2021 data and $226,040,693,134 in the October 2026 data, up 70%. Total employees: 647 in October 2021 and 714 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Mercer Investments LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: charitable organizations (1,034); pension and profit sharing plans (but not the plan participants or government pension plans) (312); pooled investment vehicles (other than investment companies and business development companies) (35)."
    },
    {
      "q": "Which custodians does Mercer Investments LLC use?",
      "a": "Mercer Investments LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Investments and Northern Trust Corporation as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Mercer Investments LLC report any disciplinary disclosures?",
      "a": "Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.H(2) (pending civil proceeding). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/133449"
    },
    {
      "q": "What changed in Mercer Investments LLC's recent Form ADV filings?",
      "a": "In the August 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 133101361411.0,
      "total_employees": 647,
      "filing_date": "2021-08-12"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 147482352780.0,
      "total_employees": 677,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 122488451189.0,
      "total_employees": 674,
      "filing_date": "2023-07-24"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 129785696503.0,
      "total_employees": 657,
      "filing_date": "2024-07-15"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 202619396821.0,
      "total_employees": 771,
      "filing_date": "2025-03-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 226040693134.0,
      "total_employees": 714,
      "filing_date": "2026-08-11"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-08-01",
      "period_label": "August 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 710 to 662.",
        "Regulatory assets under management went from $202,619,396,821 to $226,040,693,134 (+12%).",
        "Changed its office addresses in Dallas, TX.",
        "Changed its office addresses in Denver, CO.",
        "Changed its office addresses in Los Angeles, CA.",
        "Changed its office addresses in Norwalk, CT.",
        "Changed its office addresses in Philadelphia, PA.",
        "Changed its office addresses in Richmond, VA.",
        "Changed its office addresses in Tampa, FL.",
        "Changed its office addresses in Washington, DC.",
        "Added an office in Cleveland, OH.",
        "No longer lists an office in Kansas City, MO."
      ]
    },
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Fidelity Investments",
      "name_as_filed": "FIDELITY INVESTMENTS",
      "affiliated": false
    },
    {
      "name": "Northern Trust Corporation",
      "name_as_filed": "NORTHERN TRUST CORPORATION",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/mercer-investments-llc-boston-ma-133449.md",
  "clients": [
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 6,
      "fewer_than_5": false,
      "raum": 11018569689.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 35,
      "fewer_than_5": false,
      "raum": 9887879313.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 312,
      "fewer_than_5": false,
      "raum": 139869562560.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 1034,
      "fewer_than_5": false,
      "raum": 62558337474.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": null,
      "fewer_than_5": true,
      "raum": 483529042.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": null,
      "fewer_than_5": true,
      "raum": 347125442.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": null,
      "fewer_than_5": true,
      "raum": 2287498.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": null,
      "fewer_than_5": true,
      "raum": 15500874.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 20,
      "fewer_than_5": false,
      "raum": 1857901242.0
    }
  ],
  "disclosure_line": "Reports 1 disclosure item on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/133449",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}