Mercer Global Advisors, a US-based registered investment adviser (RIA), has purchased Empyrion Wealth Management for an undisclosed sum.

With headquarters in Roseville, California, Empyrion offers various financial services to family stewards, women in transition and retirees.

Founded by the firm’s president Kimberly FOSS in 2002, Empyrion currently serves 90 clients with around $250m in assets under management (AUM).

Foss said: “Empyrion focuses on delivering the highest calibre financial advice to our clients, and we wanted to join a leading national RIA to add more scale and leverage capabilities to our team and clients. 

“I had known about Mercer Advisors for years through our shared relationship with Dimensional Fund Advisors and personally know David Barton, Mercer Advisors’ vice chairman, who leads mergers and acquisitions.

“Their comprehensive ‘family office’ approach to client care with in-house services like estate planning, tax consultation and tax return preparation, etc., adds the depth and breadth of service I was looking for and allows me to offload burdensome back-office work so that I can focus on what is most important – my clients.”

The latest deal represents the 15th women-led advisory outfit bought by Mercer Advisors since 2016.

It helps Mercer Advisors to strengthen its reach in California.

Mercer Advisors CEO Dave Welling said: “The business combination between Mercer Advisors and Empyrion is an ideal fit with both firms anchoring on financial planning.”

Last month, Mercer Advisors announced the acquisition of Michigan-based wealth management outfit Vintage Financial Services.