Mercer has been one of the biggest acquirers of wealth management firms in the North American market.

Denver-based Mercer Global Advisors, the RIA that has been acquiring a multitude of US wealth businesses, said this week that it has bought Steward Wealth Management to boost its Texas presence.

Steward Wealth Management – a wealth management firm located in Colleyville, Texas – provides guidance on financial planning, investments, tax, and estate planning. Founded by Dustin Stiefel, and Vince Hawkins in 2005, it serves about 340 clients with assets under management of around $680 million, the firm said in a statement.

Steward will benefit from Mercer’s in-house estate planning, tax planning and return preparation, among other services, whilst Mercer will bolster its Texas presence with a “respected and fast-growing firm.”

Denver-based Mercer has been one of the largest acquirers of wealth management firms in the North American market. The RIA has been acquiring a raft of US wealth businesses, most recently buying wealth manager Private Asset Management (PAM) to strengthen its California presence. See more here. Family Wealth Report's US correspondent, Charles Paikert, has analysed the firm's M&A activities here.