Mercer Global Advisors has acquired New York-based wealth management firm Mirsky Financial Management Corporation (MFMC).

The acquisition, whose financial terms are undisclosed, marks Mercer Advisors’ second acquisition this week. The firm, earlier this week, purchased Virginia-based Precipio Wealth Management.

Founded in 1999 by David Mirsky, MFMC provides financial planning, wealth management, retirement planning, estate planning, and tax services to their high-net-worth (HNW) clientele.

The firm has assets under management (AUM) of approximately $320m.

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

The acquisition was led by Mercer Advisors vice chairman David Barton.

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Barton said: “We share the belief that the combination of financial planning plus in-house, coordinated tax return preparation creates synergised value to the client with the CFP professional and CPA working together to help produce value-added results for clients.

“This is exactly what Mercer Advisors does and thus our cultural fit is very high. This is a win-win transaction for everyone.”

Mercer Advisors CEO Dave Welling said: “David and Bernie have built a great business and lead a team of highly respected wealth management professionals. This is the type of talent we seek to add to our team, and we look forward to offering expanding services to their clientele for years to come.”

The latest deal marks the continuation of a series of consolidation activities by Mercer Advisors.

In October this year, the firm purchased Texas-based wealth management firm Quest Capital and Washington-based wealth management firm Miller Advisors.

AFI Wealth Strategies, Hart Capital Management, ET George Investment Management, and Pinnacle Wealth Solutions are amongst the other acquisition made by the firm this year.