Mariner buys CBIZ wealth business

The 24-employee unit will continue to work out of seven different cities
DEC 30, 2010
Mariner Wealth Advisors is acquiring the wealth management business of CBIZ Inc. CBIZ' wealth management unit had $357 million in client assets, according to the ADV form filed in September. CBIZ provides accounting and other services to businesses. Mariner, together with its affiliate money management firms, runs about $8 billion in assets. Terms of the deal were not disclosed. The 24 advisers and professionals joining Mariner will remain in CBIZ offices in Denver, Kansas City, Los Angeles, New York, Philadelphia, San Diego and Cumberland, Md., Mariner said in a statement. Mariner was co-founded in 2006 by two A.G. Edwards & Sons Inc. veterans, Martin Bicknell and Bruce Kusmin.

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