Ran into that too but in the other way (three magic, one physical). There are spells that break down physical armor (tentacle whip, decay, I think shackles of pain, etc) but I wouldn't change your mage. Some monsters are very good against physical and wimps versus magic so having a mage is quite valuable. I thought of trying an all physical group as well as an all magic group but haven't done so as of yet.
Thanks for the advice, I decided to keep her but in the end I had to turn the difficulty down as I literally couldn't proceed with the game because every avenue was blocked by an impossible fight (this is just after arriving at Driftwood), so it doesn't really matter now as Explorer mode is a cakewalk, which is still no fun but at least I can play the game now whereas on Classic I was on the verge of quitting.
Thanks again.