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.
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.
Carson is expanding one of its relationships in Florida while Lido Advisors adds an $870 million practice in Silicon Valley.
The approval of the pay proposal, which handsomely compensates its CEO and president, bolsters claims that big payouts are a must in the war to retain leadership.
Integrated Partners is adding a husband-wife tandem to its network in Missouri as Kestra onboards a father-son advisor duo from UBS.
Futures indicate stocks will build on Tuesday's rally.
Cost of living still tops concerns about negative impacts on personal finances
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