Mercer Advisors, a Santa Barbara-based wealth management firm, has purchased Costa Mesa-based Fabian Wealth Strategies for an undisclosed amount.
Fabian Wealth is a family-operated registered investment advisor, which manages $95m in client assets.
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The terms of the deal have not been disclosed.
Mercer Advisors CEO David Barton said: "Mercer Advisors continues to add talent and branch office presence and distribution in accordance with our strategic plans. Southern California is definitely a market in which we're keen to expand our already significant presence.
Fabian Wealth president Doug Fabian said: "Mercer Advisors shares our vision of how to operate a fee-only practice by providing independent, objective advice without any product sales agenda. Our affiliation with Mercer Advisors will allow us to deliver a broader range of specialized offerings, including turnkey asset management, in-house estate planning, executive benefits consulting, family office services, and trust administration."
Barton added: "We are excited to have Doug and his team on board and to merge Fabian Wealth into our existing Newport Beach office. Doug and his advisory team – with deep local roots and extensive knowledge of the Orange County market – will gain the added strength and stability of a national powerhouse with 30 years of experience.
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By GlobalData“Together, we're ideally positioned to offer our Southern California clients a compelling Family Office value proposition ranging from world-class investment advice, financial and retirement planning, in-house estate and tax planning, asset protection advice, through to corporate trustee and trust administration services, all for one low fee."
