Mariner adds $500 million Pennsylvania RIA
Commonwealth Advisory Group will be Mariner’s first office in Pittsburgh.
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.
[More: Mariner Wealth to acquire AdvicePeriod]
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.
[More: Mariner partners with Dynasty to launch platform for breakaway brokers]
It’s tough to build an advice practice around those who need it most
Learn more about reprints and licensing for this article.
