Colorado-based Mercer Global Advisors has strengthened its footprint in its home market with the takeover of Frisco, Colorado-based Summit Wealth Advisors.

Through the deal, whose financial terms were not revealed, Mercer gains around $130m in AUM.

Established in 1993 by Robert Fred Lau (Bob), Summit offers asset management, portfolio construction and maintenance, retirement planning services to individuals and small businesses.

As part of the deal, Mercer will absorb the Summit team including shareholder and client adviser Emily Ann Messegee.

Mercer CEO Dave Welling said:  “We look forward to Bob and Emily joining the team, adding their years of experience and community involvement to our growing presence in Colorado.

“From the very first conversations with Bob, Emily and the Summit team, it was clear we had a unified vision on how to serve clients and our communities.”

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The latest deal continues Mercer’s recent acquisition spree.

Last month, the firm acquired M.J. Smith and Associates as well as ClearRock Capital.

Earlier this year, Mercer snapped up Argosy Wealth Management, First Ohio Planning, and CCP.

With assets of over $20bn, Mercer offers investment advice, financial and estate planning, corporate trustee and trust administration services.

The firm employs more than 440 people and has operations in over 40 locations across the US.

“In talking with David Barton, Mercer Advisors’ Vice Chairman, who leads Mergers and Acquisitions and other members of the Mercer Advisors team, Emily and I knew we found the right partner for us, our staff, and our clients,” Lau said.