Mariner Wealth Advisors, an Overland Park, Kansas-based national registered investment adviser advising on $60 billion in assets, is acquiring Corbenic Partners, a Bethlehem, Pennsylvania-based RIA managing $1 billion.
Terms of the acquisition, which is expected to close June 30, were not disclosed.
Corbenic, which is more than 30 years old, specializes in serving franchisee owners. The firm will assume the Mariner Wealth Advisors name following the closing and will continue operations as before with its current team of eight in place.
This will be Mariner Wealth's sixth office in Pennsylvania, the firm said in a press release Tuesday.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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