# Mercer Investments LLC

> 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.

- CRD: 133449
- Filed as: MERCER INVESTMENTS LLC
- Also doing business as: MERCER INVESTMENT ADVISERS LLC, MERCER INVESTMENTS, MERCER INVESTMENTS LLC (DELAWARE), MERCER INVESTMENTS LLC OF DELAWARE, MERCER INVESTMENTS LLC, A LIMITED LIABILITY COMPANY OF DELAWARE
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boston, MA
- Filing period: October 2026
- Form ADV filing dated: August 11, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/133449
- AdvisorCensus page: https://advisorcensus.com/firm/mercer-investments-llc-boston-ma-133449

## Quick answers

**How is Mercer Investments LLC compensated?**
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.

**Where is Mercer Investments LLC located?**
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).

**Is Mercer Investments LLC registered with the SEC or a state?**
Mercer Investments LLC is an SEC-registered investment advisory firm, registered since 2005. Status as filed: Approved. CRD 133449.

**How much does Mercer Investments LLC manage?**
Mercer Investments LLC reports $226,040,693,134 in regulatory assets under management in its Form ADV filing dated August 11, 2026 (97% discretionary).

**How have Mercer Investments LLC's assets and staff changed since 2021?**
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.

**What types of clients does Mercer Investments LLC serve?**
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).

**Which custodians does Mercer Investments LLC use?**
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.

**Does Mercer Investments LLC report any disciplinary disclosures?**
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

**What changed in Mercer Investments LLC's recent Form ADV filings?**
In the August 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Performance-based fees
- Other

### Custodians (Schedule D, Section 5.K(3))
- Fidelity Investments
- Northern Trust Corporation

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.

### Regulatory assets under management (Item 5.F)
- Total: $226,040,693,134
- Discretionary: $220,286,617,428
- Non-discretionary: $5,754,075,706

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 6 | $11,018,569,689 |
| Pooled investment vehicles (other than investment companies and business development companies) | 35 | $9,887,879,313 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 312 | $139,869,562,560 |
| Charitable organizations | 1,034 | $62,558,337,474 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $483,529,042 |
| Insurance companies | Fewer than 5 | $347,125,442 |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $2,287,498 |
| Corporations or other businesses not listed above | Fewer than 5 | $15,500,874 |
| Other | 20 | $1,857,901,242 |

### Advisory services (Item 5.G)
- 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

### Firm details
- Registered since: 2005 (21 years)
- Employees: 714 total, 662 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: 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
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.H(2): 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)?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/133449

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Atlanta, GA
- Charlotte, NC
- Chicago, IL
- Cleveland, OH
- Columbus, OH
- Dallas, TX
- Denver, CO
- Houston, TX
- Irvine, CA
- King of Prussia, PA
- Los Angeles, CA
- Minneapolis, MN
- Morristown, NJ
- New York, NY
- Norwalk, CT
- Philadelphia, PA
- Phoenix, AZ
- Pittsburgh, PA
- Rancho Cordova, CA
- Richmond, VA
- Salt Lake City, UT
- Seattle, WA
- St. Louis, MO
- Tampa, FL
- Washington, DC

### Websites listed on Form ADV (Item 1.I)
- mercer.com/en-us/insights/investments
- LinkedIn @mercer-investments

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $133,101,361,411 | 647 | August 12, 2021 |
| October 2022 | $147,482,352,780 | 677 | March 31, 2022 |
| October 2023 | $122,488,451,189 | 674 | July 24, 2023 |
| October 2024 | $129,785,696,503 | 657 | July 15, 2024 |
| October 2025 | $202,619,396,821 | 771 | March 31, 2025 |
| October 2026 | $226,040,693,134 | 714 | August 11, 2026 |

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.

## Changes in the filing (last 12 months)

### August 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- 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.

### February 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Mercer Investments LLC (CRD 133449): Form ADV filing data as of October 2026.