Mariner Wealth Advisors, an Overland Park, Kansas-based registered investment adviser with $46 billion in assets under advisement, has agreed to acquire Pittsburgh-based Commonwealth Advisory Group, which manages $500 million.
Terms of the deal, which will close Aug. 31, were not disclosed. Although Mariner has a presence in Pennsylvania, this will be the firm’s first office in Pittsburgh.
Commonwealth will assume the Mariner name when the deal closes, and the location will remain under the leadership of Robert Lohman, who founded the firm in 1988.
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
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With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
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Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
