Mariner Wealth Advisors has agreed to acquire Baystate Wealth Management, a Boston-based investment outsourcing specialist that has roughly $1.8 billion in assets under management (AUM). The deal will extend the firm's outsource investment management capabilities, allowing them to better serve their clients with a wider range of investment options and services. This acquisition marks a significant step in Mariner Wealth Advisors' growth strategy and solidifies their position in the wealth management industry.
In addition to acquiring Baystate Wealth Management, Mariner Wealth Advisors is also acquiring Confluence Financial Planning, a California-based advisory firm with $360 million in managed assets. This move further strengthens the firm's presence in key markets and enhances their ability to provide personalized financial planning solutions to clients across the country. The acquisition brings a total of $2.16 billion in AUM to Mariner Wealth Advisors, positioning them as a major player in the wealth management sector.
However, Mariner Wealth Advisors is facing two more lawsuits over alleged client poaching and attempts to steal trade secrets. These legal challenges could potentially impact the firm's reputation and business operations if not resolved in a timely manner. Despite these legal hurdles, Mariner Wealth Advisors remains focused on delivering exceptional service to their clients and driving growth through strategic acquisitions and partnerships.
To further expand their offerings, Mariner Wealth Advisors will acquire institutional investment consulting firms AndCo Consulting and Fourth Street Performance Partners in a move to create a new institutional business unit. This strategic initiative aims to tap into the institutional market and provide comprehensive investment solutions to pension funds, endowments, and foundations. By diversifying their business lines, Mariner Wealth Advisors is positioning themselves for long-term success and sustainable growth in the financial services industry.
In a joint effort to support economic development in Africa, the African Development Bank, the European Commission, Mariner Investment Group, LLC (Mariner), Africa50, and Mizuho International plc have collaborated on a new investment initiative. This partnership will drive infrastructure projects and promote sustainable growth in the region, leveraging the expertise and resources of each organization to maximize impact. The initiative underscores Mariner Wealth Advisors' commitment to social responsibility and corporate citizenship on a global scale.
Societe Generale, one of the leading European financial services groups, has announced a partnership with Mariner Investment Group, LLC to enhance their investment capabilities and expand their market reach. This collaboration brings together two industry leaders with complementary strengths and expertise, creating synergies that will benefit clients and stakeholders alike. By joining forces, Societe Generale and Mariner Investment Group are poised to drive innovation and deliver value-added solutions to investors in a rapidly evolving financial landscape.
