Mariner Wealth Advisors to Acquire Commonwealth Advisory Group Wealth advisory firm continues rapid growth with its fourth announced acquisition of the summer
Overland Park, Kan.
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August 11, 2021 09:00 AM Eastern Daylight Time
Mariner Wealth Advisors, a national wealth advisory firm, announced today that it has entered into a binding agreement to acquire Pittsburgh-based Commonwealth Advisory Group in a deal that will close on August 31. Mariner Wealth Advisors currently has 373 advisors across 50 offices, and although they have a presence in Pennsylvania, this will be the firm’s first location in Pittsburgh.
“As we continue to acquire firms, it is essential that we align ourselves with financial advisors who are equally as passionate about their clients as we are, which is why we are thrilled to partner with Bob Lohman and his team at Commonwealth Advisory Group,” said Marty Bicknell, CEO and president of Mariner Wealth Advisors. “Their work with professional athletes and entrepreneurs will be a great addition to our specialized practice in this space. Our dedicated advisors understand the nuances of financial planning for these individuals who require deep tax knowledge and asset protection. We look forward to expanding this practice with Commonwealth’s added experience.”
Commonwealth Advisory Group currently serves over 400 clients with nearly $500 million in assets under management. Since 1988, the firm has developed customized wealth management plans under its core values of ensuring clarity, confidence and lifestyle longevity to their clients. Commonwealth’s comprehensive set of services — from investment management to financial and tax planning services — allows clients to handle all financial decisions under one roof and aligns well with Mariner Wealth Advisors’ goal of providing a simplified financial experience.
“Partnering with a firm of the caliber of Mariner Wealth Advisors will allow us to build on the solid foundation our team has established and grow at an even more rapid pace,” said Bob Lohman, founder of Commonwealth Advisory Group. “I’m honored to take this next step with Commonwealth’s exemplary group of advisors, including Randy Hillier, Bill Burnette, Michael Doman and Jonathan Lohman, and join a firm that will take us to the next level.”
Commonwealth Advisory Group will assume the Mariner Wealth Advisors name when the deal closes in August, and the location will remain under Lohman’s leadership.
About Mariner Wealth Advisors
At Mariner Wealth Advisors, we provide 360° advice designed to last. We focus on one thing—partnering with clients to create a financial strategy for today and beyond that’s flexible enough to change along with them. The ultimate goal? Helping clients identify what is important so they can achieve their goals—we’re committed to being here for everything life brings their way. We’ve built our firm around what our clients need. We began by offering wealth planning resources and then added services from tax planning to insurance – all under one roof. We believe this integrated approach to wealth management helps simplify our clients’ lives. Founded in 2006 with $300 million in assets under advisement (AUA), Mariner Wealth Advisors has grown to nearly $46 billion AUA as of June 30, 2021.
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