Marsh Agrees to Acquire Wilshire, Extending Its Investments Business to Advisor-Led Wealth

Wilshire, which manages $221 billion, would add scale in alternatives, model portfolios, and data and analytics, according to Marsh.

November 13, 2026

Marsh (NYSE: MRSH) has agreed to acquire Wilshire, the investment consulting, solutions, and analytics firm that serves institutional investors and financial intermediaries. Marsh announced the deal on November 10 and said it expects the transaction to close in the first quarter of 2027, subject to customary closing conditions, regulatory approvals, and client consents. Financial terms were not disclosed.

Marsh said the acquisition extends its investments business into the advisor-led wealth segment and adds analytics and alternative investment capabilities, while strengthening its offering to institutional investors across public and private retirement plans, endowments, and foundations. Marsh advises clients in 130 countries and reports annual revenue of $27 billion and more than 95,000 colleagues.

John Doyle, Marsh's president and CEO, described the purchase as a step in growing the firm's investments business and strengthening its connection to the financial advisor ecosystem. Pat Tomlinson, president and CEO of Marsh People and Investments, said Marsh has spent the past decade building a platform that serves institutional investors and wealth clients with advice, products, and solutions, and that Wilshire would expand its scale and capabilities, particularly in alternatives, model portfolios, and data and analytics, strengthening that platform for wealth advisors and asset managers.

Wilshire was founded in 1972 as an index and risk analytics provider. It now combines multi-asset advice and solutions, alternative investment capabilities, and indexes with proprietary data, technology, and analytics.

The firm reports $221 billion in assets under management and $1.6 trillion in assets under advisement, both as of June 30, 2026, and both provided independently by Wilshire. The AUM figure covers securities portfolios for which Wilshire provides discretionary and non-discretionary asset management and may differ from the regulatory assets under management reported in the firm's Form ADV. The AUA figure includes AUM plus consulting and advisory relationships in which Wilshire advises without directly managing the client's portfolio.

Jason Schwarz, Wilshire's CEO, said the firm would use Marsh's global reach and resources to extend its platform, broaden its capabilities, and serve clients across the investment value chain.

Wilshire's colleagues in the United States, Europe, and Asia will join Marsh when the transaction is completed.