Mercer Global Advisors has acquired Missouri-headquartered Convergent Wealth Management, continuing its acquisition spree.

Financial terms of the deal were not disclosed.

Managing member John Stobbs founded Convergent along with Jeannie Seabaugh, who serves as investment advisor, analyst and managing member of the firm.

According to Convergent’s management team, the firm brings together investing, estate planning, risk management, college planning, tax advice and business services into ‘one complete personal solution’ for its individual, family and business clients.

The firm has approximately $130m in assets under management (AuM).

Commenting on the deal, Seabaugh said: “As John and I investigated our succession planning options, key to our decision was finding a partner firm that anchored on these same principles and had a long operating history of providing the highest level of financial care to their clients.”

Stobbs added: “We loved that Mercer Advisors provided in-house estate planning, tax return services, and corporate trustee capability to their clients which is fully integrated within their financial planning and investment management solutions with vast optionality.

“This type of multidisciplinary client care was exactly the type of service set we wished to bring to our clients. The fact we could also offload onerous and time-consuming back-office responsibilities to them was icing on the cake. We couldn’t be more excited to join the Mercer Advisors team.”

As part of the transaction, the entire Convergent team will join Mercer Advisors.

Denver-headquartered Mercer has been accelerating its consolidation strategy recently.

The latest acquisition follows the firm’s takeover of Connecticut-based wealth management firm Benemark last month.

In January this year, the firm snapped up Cordasco Financial Network, a New York-based wealth management firm.

It followed the acquisitions of New York-based Mirsky Financial Management Corporation and Virginia-based Precipio Wealth Management in December.

Commenting on the latest deal, Mercer Advisors CEO Dave Welling said: “Jeannie and John have built a great business and strong team, and they are highly respected wealth management professionals. “We are honored that they selected Mercer Advisors as their partner and we look forward to serving Convergent’s clients for years to come.”