Colorado-based wealth manager Mercer Advisors has acquired Texas-based peer Bell Wealth Management for an undisclosed sum.

The acquired entity has been tending to around 125 affluent and HNW households for over two decades.

The acquisition adds $200m in assets under management to Mercer’s books, taking its total assets to $15bn. The deal also increases Mercer’s branch network to 37.

Bell president Colin Bell said: “While other firms could offer similar terms, what was most important to me was finding the perfect convergence of what is right for our clients, our employees, and our stakeholders.

“As a fiduciary, I believe that every decision we make must pass through a filter which asks ‘Is this good for the client?’ Mercer shares our values, our investment philosophy, and our passion for serving people.”

The latest deal continues Mercer’s acquisition spree. Last month, the firm snapped up McDermott Advisory Group, Financial & Investment Management Group, Sigma Investment Management Company, and Beacon Wealth Management.

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Mercer CEO Dave Welling said: “Like Mercer, Bell has a long history of providing investment management and financial planning services to professionals in the medical community.

“Mercer Advisors currently serves over 1,500 physicians and dentists nationwide, helping these clients in multiple areas including tax planning, estate planning, asset protection, and corporate trustee advisory services.”