Mercer Global Advisors, a RIA aggregator headquartered in Colorado, has expanded its presence in Southern California with the purchase of Physicians Financial Advisors (PFA).

Financial terms of the transaction were not revealed.

Newport Beach-based PFA focuses on offering wealth management services to the medical community.

It caters to 80 HNW US households.

The business’ founder Erik Thurner along with other employees will move to Mercer Advisors as part of the deal.

Mercer Advisors already has branches in Newport Beach, Santa Barbara, San Diego, Los Angeles, and Costa Mesa.

PFA’s Newport Beach location will now be merged with Mercer Advisers’ existing office in Newport Beach, increasing the latter’s total office count to 42.

The deal also raises Mercer Advisors’ assets under management to more than $16bn.

Mercer Advisors CEO Dave Welling said: “We currently serve approximately 2,000 physicians and dentists and we know the unique needs of these clients well.

“Erik’s acumen and leadership will make a difference as we deepen our outreach to this professional community.”

Mercer Advisors’ M&A activities have picked up pace lately. Its most recent purchase was that of California’s Jackson Financial Management.

The firm’s other acquisitions this year include that of Colorado’s Confluence Financial Advisors, Michigan’s Arbor Asset Management, and California-based Dragon Financial Group.