The firm's deal extends its footprint in California to a total of nine offices, covering almost $5.0 billion in AuM.

Mercer Global Advisors, the US RIA, is buying AL Hewitt, a wealth management firm in Camarillo, California serving about 120 clients with assets under management of $100 million.

Hewitt also operates a tax return preparation business preparing over 4,000 tax returns annually, according to a statement from Mercer yesterday. 

The acquisition adds to Mercers’ presence in California with nine offices serving approximately 3,200 clients with nearly $5 billion in AuM. The Hewitt acquisition brings Mercer’s total offices to 45 and increases Mercer’s total AuM to about $17 billion.

Alan and Josette Hewitt founded A V Tax and Business Services, Inc, in 1990. Alan Hewitt founded AL Hewitt, Inc a fee-only RIA in 2006. 

“We had lots of interest in our firm; there was no shortage of potential buyers. After meeting with Dave Barton, Mercer Advisors vice chairman heading up mergers and acquisitions, the choice was clear – Mercer Advisors was the perfect fit for us,” the Hewitts said.

See yesterday's story about the potential scale of RIA consolidation over the next five to 10 years.