Mariner Wealth Advisors, a national wealth advisory firm based in Overland Park, Kan., announced the acquisition of Pittsburgh, Pa.-based Executive Wealth Counselors in a deal set to close at the end of the month.
The deal is Mariner’s seventh so far this year, and builds up the firm’s presence in Pennsylvania, marking its seventh office in the state and second in the Pittsburgh area.
Executives expect the deal will expand Executive Wealth Counselors’ capabilities into tax planning and preparation, estate planning and trust services and access to unique investment strategies.
Founded in 2007, EWC currently has four associates, including three advisors, specializing in wealth and investment management for mostly high-net-worth clients. Led by owner Louis Valli, the firm oversees $256 million in assets under advisement.
“This firm folds in perfectly to what we do here at Mariner Wealth Advisors,” said Marty Bicknell, CEO and president of Mariner Wealth Advisors, “and I think our services and growth opportunities are a perfect match for their advisors.”
Valli said his decision to join Mariner Wealth Advisors is a strategic move to “elevate the firm’s growth strategy and service offerings in a changing industry where larger firms continue to present greater competition.” Aiding his decision was a positive referral from the founder of Commonwealth Advisory Group, which Mariner acquired in 2021. “I’m confident this move will give both our clients and our advisors the growth opportunities they deserve,” he said.
Executive Wealth Counselors will assume the Mariner Wealth Advisors name when the deal closes on September 30, becoming Mariner’s 77th location nationwide, and will continue to operate with its current team in place.
“Continuing to add talented wealth advisors is a crucial part of our ongoing inorganic growth strategy. We want to be able to help as many people as possible with our services and solutions,” Bicknell said. “This will be an ongoing effort for us for the foreseeable future.”
Founded in 2006 with $300 million in assets under advisement, Mariner Wealth Advisors and its affiliates now advise on over $60 billion in assets.