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.
It’s tough to build an advice practice around those who need it most
Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.