Colorado-based RIA aggregator Mercer Global Advisors has continued its acquisition spree by snapping up AL Hewitt, a California-based wealth management firm.

Hewitt was founded in 2006 by Alan Hewitt. With $100m of assets under management (AUM), the company provides financial planning and integrated tax advice services to HNW clients.

The Camarillo-based firm also assists clients with tax return preparation readying more than 4,000 tax returns annually.

The acquisition bolsters Mercer Global Advisors footprint in California. With nearly $5bn AUM, the Colorado-based firm now serves around 3,200 clients in the state through nine branches.

Mercer Global Advisors CEO Dave Welling said: “The Hewitt team deepens our significant presence in California as well as our tax expertise. We look forward to serving all of Hewitt’s clients for years to come.”

Overall, Mercer Global Advisors now has 45 offices with around $17bn in total AUM.

Mercer Global Advisors vice-chairman David Barton said: “The value add of providing in-house estate planning, tax return reparation, and corporate trustee advisory services allows our clients to receive fully integrated financial care with different subject matter experts working together – side by side – to provide best in industry advice and results for our approximately 12,000 clients nationwide.

“Hewitt’s RIA and Tax practice seamlessly integrates into our business model and provides significant lift to our tax capability.”

Mercer Global Advisors offers investment management, financial planning, and family office services, among others. Set up in 1985, the firm has staff strength of more than 390.

In 2019, the company acquired Sage Future Financial, Regent Wealth Management Group, and Physicians Financial Advisors.

It also purchased Jackson Financial Management, Confluence Financial Advisors and Arbor Asset Management this year.

On the other hand, Oak Hill Capital signed a deal in September to acquire a stake in Mercer Global Advisors.