Mercer Global Advisors has expanded its presence in the central US region with the acquisition of HYA Advisors and related entity Heim, Young & Associates.

Financial terms of the transactions were not disclosed.

Missouri-headquartered HYA Advisors was founded in 1991 by Dennis Heim and Dean Young. The firm currently caters to around 1,000 clients with assets under management and advisement (AUM/A) of approximately $1.2 bn.

HYA Advisors is currently managed by principals Brent Singleton, Mike Sharp, Jeff Bilberry and partner Holly Gray.

As part of the deal, the entire HYA team will join Mercer Advisors.

Commenting on the deal, Singleton said: “My partners and I were at a place where the business had grown substantially, and we knew we could benefit from having the expertise of a larger firm to help take us to the next level.  We also knew that we wanted to expand the financial planning services available to our clients.

“We were introduced to David Barton, Vice Chairman and Head of Mergers & Acquisitions at Mercer Advisors, to discuss our options, and see if partnering with a larger firm like Mercer Advisors made sense. After several conversations, we became very excited because we felt like Mercer Advisors completely aligned with our values of taking care of our clients first, as well as providing an opportunity for our employees to grow.”

The latest deal continues Mercer’s ongoing acquisition spree. Earlier this year, the firm acquired Missouri-headquartered Convergent Wealth Management and Florida-headquartered wealth management firm Cordasco Financial Network.

These acquisitions followed the firm’s takeover of a number of wealth firms in the last year, including Precipio Wealth Management, Quest Capital, and Miller Advisors.

Mercer Advisors CEO Dave Welling commented: “The Partners at HYA have built a great business, a strong team and they are a highly respected group of wealth management professionals. We are thrilled to be opening a new location in Springfield, Missouri and look forward to working together to deliver meaningful results for our shared clients.”