Mercer Global Advisors has continued its buying spree with the acquisition of Beverly Hills, California-based Argosy Wealth Management.

The deal, whose financial details were not revealed, adds around $330m to Argosy’s books.

Founded in 2010, the acquired business offers financial planning and investment management services to HNW clients. The firm caters to nearly 300 households.

As part of the deal, Argosy founders Michael Karon and Alex Kimura and seven employees of the firm will move to Mercer.

Karon noted: “We are a dedicated financial planning firm and we were looking to join a large platform RIA that could take over time consuming and costly back office work, allowing Alex and I to do what we do best, serve our clients at the highest level and to grow our business.

“After meeting and spending time with Dave Barton, Vice Chairman leading Mercer Advisors’ M&A activity, we knew we found the right partner.”

Mercer Advisors vice chairman leading M&A activity Dave Barton said: “What set us apart from other buyers was we had high cultural alignment, we operate similarly, and share the same values and beliefs.”

Barton said that the takeover will enable Argosy to provide Mercer Advisors’ Family Office services including in-house estate planning and tax return preparation services to their customers.

Earlier this year, Colorado-based Mercer Advisors acquired First Ohio Planning with around $350m in assets and $140m Illinois wealth manager CCP.