Mariner Wealth Advisors, an Overland Park, Kansas-based firm with $50 billion in assets under advisement, will acquire Savant Investment Group, an Emeryville, California-based firm advising on $770 million in assets.
The terms of the deal, Mariner’s ninth acquisition this year, were not disclosed.
Scott Lummer, chief executive and chief investment officer of Savant, will continue to run the Emeryville office as managing director, and all eight professionals will retain their current roles.
Savant provides retirement plan services in addition to financial planning and wealth management. The firm will assume the Mariner Wealth Advisors name when the deal closes.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
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Chair also praised the passage of stablecoin legislation this week.
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