The Firm.
Mercury Investment Group was founded in Memphis in 2002 on a single conviction: that demographic trends are among the most predictable forces in economics, and that the market systematically fails to price them across a long horizon.
Start a ConversationTwenty-three years serving long-horizon investors.
Mercury Investment Group was founded in 2002 by Frank Goodman and Robert Hunt, former executives at AutoZone with over fifty years of combined experience in corporate finance and planning. Drawing on that background, they developed an investment approach that pairs demographic sales forecasting with fundamental financial modeling — a process designed to produce above-market returns with below-market risk and tax efficiency through low turnover. The firm launched with capital from the founders alongside assets from former colleagues, friends, and family, and continues to manage concentrated portfolios of thirty-eight to forty-five large-capitalization equities.
The people who manage the capital.
Frank B. Goodman, III
Founder & Chief Investment OfficerFrank combines a deep understanding of demographics and consumer behavior to identify superior growth opportunities. Prior to founding Mercury Investment Group, Frank was the vice president of research for AutoZone, Inc.
Frank earned his BA from the University of Alabama and his MBA from the University of Memphis.
Edward Goodman
Chief Compliance OfficerEdward Goodman has served as Mercury's
Cecil A. Godman, III
Director of Client ServicesCecil leads our business development and client servicing effort while adding his multi-decades of investment experience to our organization.
Prior to joining Mercury Investment Group, Cecil was SVP of Business Development for First Tennessee Advisory Services and Highland Capital Management. Previously he was VP at SunTrust’s Private Wealth Management division. He currently serves on the Boards of FCA Memphis, Disciplining Men, and the Bubba Conlee Junior Golf Tournament.
Cecil earned his BA in Business Administration and Economics from Rhodes College.
Mercury has no institutional parent, no outside investors, and no revenue beyond client advisory fees. That structure means our incentives are fully aligned with the people we advise, with no competing obligations to outside stakeholders.
The firm has been headquartered in Memphis since its founding. The distance from coastal financial centers is an advantage, not a liability. We are not subject to the narrative pressures that shape consensus thinking on Wall Street.
The research process and investment framework are institutionalized. The firm is not dependent on any single person, and succession planning has been a formal priority since the founding team was expanded in 2007.
We Choose Our Clients
Most investment firms are structured in ways that push capital toward the near term. Quarterly performance reviews, redemption risk, benchmark mandates, and asset-gathering incentives all work against long-horizon investing. Rather than chasing client assets, Mercury select clients for horizon alignment. Before accepting a new engagement, we confirm that a client's investment policy permits the volatility and patience our strategy requires. We do not manage money for clients who will exit during a sustained period of underperformance relative to the S&P 500, and we are direct about this from the first conversation. The result is a portfolio that is not subject to the forced selling that ends most long-horizon theses before they mature.
We select clients the same way we select positions.
Horizon alignment is the first question. If your investment policy permits patience, we should have a conversation.