Mariner adds $360M California firm

In its 7th acquisition of 2023, Mariner buys Sacramento-based Confluence Financial Planning.

Mariner Wealth Advisors has added its 15^th office in California with the acquisition of Confluence Financial Planning in Sacramento, which oversees $360 million in assets for 285 clients, the firm announced Tuesday.

Cynthia Meyers founded Confluence in 1983 to provide personalized financial planning for clients rather than the traditional focus on investments.

“The name ‘Confluence’ reflects the strength of the firm, the sense of collaboration we have with our clients, and the richness of life’s possibilities,” Meyers said in a statement. “Though we have long prided ourselves on our ability to support our clients through a combination of in-house support and outside referrals, I have no doubt our clients will be as thrilled as we are that the confluence of these two firms will now allow us to utilize Mariner’s wide breadth of service offerings to address each of their needs under one roof.”

The deal closed on Dec. 31, at which point Confluence adopted the Mariner Wealth Advisors name, with its six associates continuing to operate out of its Sacramento office.

“The remarkable economic growth in the greater Sacramento region, coupled with the success of Confluence Financial Planning, made this acquisition a strategic union of thriving environments and proven expertise,” Marty Bicknell, CEO and president of Mariner, said in the statement. “As we continue to prioritize what matters most to us — delivering an unparalleled experience and optimal outcomes for our clients — this collaboration promises to bring forth a wealth of opportunities for growth and success.”

The deal was Mariner’s seventh acquisition of 2023, and follows its November purchase of $1.8 billion Baystate Wealth Management and its deal in May for Spring, a provider of financial wellness benefits.

The Overland Park, Kansas-based firm now oversees more than $114 billion of assets.