Pure Financial Advisors, a registered investment advisor based in San Diego, announced the acquisition of two advisory firms completed at the end of 2023.

In a press release Monday, the firm said it had bought Symphony Financial Planning, a Davis, Calif., firm that managed about $240 million at the time of closing, as well as Crestline Capital, a Lake Oswego, Ore., firm with an AUM of more than $90 million.

Pure manages more than $6 billion and has 51 advisors in eight offices in the Western and Central regions of the country. It said the two deals expand its presence in the Western U.S., and that all the employees and principals of Symphony and Crestline have joined Pure.

“Our focus continues to be on growing organically, with a secondary aim of making very few, select acquisitions and partnerships wherein the culture, business and strategic fit exists,” said Jason Carver, Pure Financial’s chief financial officer and managing partner, in a statement. “In each of these cases, the connection and opportunity between our businesses was so natural and outright compelling that both sides were eager to partner together.”

Acquisitions might be a hot topic in the wealth management business, and “M&A is clearly a strategy that a lot of firms want to pursue,” Carver said in a separate interview with Financial Advisor. But, he added, “We’re going against the grain in that [acquisitions] are not a primary driver of growth for us.”

Pure Financial grew its assets organically (without acquisitions), 30% last year, and it aims to continue its focus on organic growth, according to Carver.

“We are one of the fastest-growing firms [organically], especially at our size in the industry,” he said. He noted that firms of Pure Financial’s size are growing organically at an annual 8% clip. The firm’s goal is to grow organically 20% to 30% year over year.

“We’re on pace to hit our goals for [this] year,” he said.

Pure Financial has acquired four companies since 2021, and it will continue to travel the acquisition trail, though it plans to be opportunistic in the deals it makes. The company said in its press announcement that it’s looking to hire additional advisors and planners in the Portland and Northern California regions, in addition to the Central and Western United States.

Carver explained that Pure will target firms with $150 million to $1 billion in assets and advisors with less than $70 million in assets who want support with growth and additional resources.

The firm doesn’t currently have any other potential deals with letters of intent, Carver said. “But we are very close to that stage with several of those opportunities.”

He believed Pure Financial could grow to $10 billion in the next “three or so years.”