Key Takeaways
- • Marsh, the largest global investment consulting firm, plans to acquire Wilshire Advisors in a deal expected to close in the first quarter of 2027, according to a news release dated November 10, 2026; financial terms were not disclosed.
- • The acquisition reunites Marsh with the U.S. public pension plan market it exited in October 2010, when it was then known as Mercer and resigned accounts with combined assets of $240 billion under advisement.
- • Per Pensions & Investments data as of June 30, 2025, Marsh had $16.2 trillion in worldwide assets under advisement and Wilshire Advisors had $1.5 trillion in worldwide AUA.
- • Marsh CEO John Doyle framed the deal as a step toward growing Marsh's investments business and strengthening its connection to the financial advisor ecosystem, combining Wilshire's capabilities with Marsh's global reach and public and private markets expertise.
Summary
Marsh, the largest global investment consulting firm, has announced plans to acquire Wilshire Advisors, according to a news release issued by the two firms on November 10, 2026, as reported by Pensions & Investments. The deal is expected to close in the first quarter of 2027. Terms were not disclosed.
The transaction would renew Marsh's ties to the U.S. public pension plan market, which the firm exited more than 15 years ago. In October 2010, then operating as Mercer, Marsh announced it would leave the U.S. public fund market and resign accounts with a combined $240 billion in assets under advisement. The exit followed lawsuits filed against the firm's actuarial consulting affiliate by public fund clients. Wilshire Advisors has remained one of the most visible participants in that market.
John Doyle, president and CEO of Marsh, said in the release that the acquisition is "an important step in growing Marsh's investments business and strengthening our connection to the financial advisor ecosystem." He added that combining Wilshire's capabilities with Marsh's global reach, open architecture, and expertise across public and private markets would help clients make better decisions and build resilient portfolios.
According to Pensions & Investments data, Marsh had $16.2 trillion in worldwide assets under advisement and Wilshire Advisors had $1.5 trillion in worldwide AUA, both as of June 30, 2025.
The transaction would renew Marsh's ties to the U.S. public pension plan market, which the firm exited more than 15 years ago. In October 2010, then operating as Mercer, Marsh announced it would leave the U.S. public fund market and resign accounts with a combined $240 billion in assets under advisement. The exit followed lawsuits filed against the firm's actuarial consulting affiliate by public fund clients. Wilshire Advisors has remained one of the most visible participants in that market.
John Doyle, president and CEO of Marsh, said in the release that the acquisition is "an important step in growing Marsh's investments business and strengthening our connection to the financial advisor ecosystem." He added that combining Wilshire's capabilities with Marsh's global reach, open architecture, and expertise across public and private markets would help clients make better decisions and build resilient portfolios.
According to Pensions & Investments data, Marsh had $16.2 trillion in worldwide assets under advisement and Wilshire Advisors had $1.5 trillion in worldwide AUA, both as of June 30, 2025.
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