Portland, Oregon-based independent wealth management firm Pure Portfolios has agreed to combine with regional peer Northwest Wealth Advisors (NWA). Financial terms of the deal were not revealed.

Founded in 2016, Pure Portfolios provides financial planning, portfolio management, and estate and generational planning amongst other services.

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NWA, which has a presence in Oregon and Washington, specialises in financial planning and offers clients a suite of tools to streamline the investment management process.

The combined entity will collectively oversee around $200m in assets for individuals, families, non-profit organisations, and retirement plans for clients across the US.

It will continue to offer personalised, fiduciary advice to existing and future clients.

Northwest Wealth owner Toby Weber said: “Over the past two years, we undertook a search of local wealth management firms to find a partner that would help us to continue to grow and provide our clients with the same excellent advice and customer service they have grown accustomed to for the past 20+ years under our retiring founder, Mark Neil.

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“After meeting with more than 25 firms, we kept coming back to David and Nik at Pure Portfolios. With their passion for delivering successful client outcomes in a transparent, honest, and straightforward manner, we knew we had found the right partners to best complement our approach and values.”

Commenting on the development, Pure Portfolios founder Nik Schuurmans and partner David Gewant added: “In Northwest Wealth Advisors, we found a firm that wasn’t satisfied with the status quo of high-cost/low-value, nor conflicted advice typically provided by large banks and brokerage firms.

“We share the same culture, values, and passion for doing the right thing for clients, and it is fantastic to be building a greater investment firm that truly puts client interests first. Merging with Northwest Wealth aligns well with our mission to be leading a paradigm shift in the industry to serve clients better.”