Mariner Wealth Advisors, the Overland Park, Kan.-based national wealth advisory firm, announced that it has expanded its presence in California by acquiring Sacramento-based Confluence Financial Planning and its $360 million in assets under management.
The acquisition established Mariner’s first office in the River City, the 15th in the Golden State and the 99th nationwide. The agreement was finalized on Oct. 16, 2023, with the transition reaching its completion on December 31.
After the closure, Confluence Financial Planning assumed the Mariner Wealth Advisors name, retaining its six associates and continuing its operations out of the Sacramento office.
An early proponent of the lifetime approach to financial planning, Confluence Financial Planning has been at the forefront of guiding clients in Sacramento and beyond through nearly four decades of personalized financial strategies, according to the announcement.
“The remarkable economic growth in the greater Sacramento region, coupled with the success of Confluence Financial Planning, made this acquisition a strategic union of thriving environments and proven expertise,” stated Marty Bicknell, CEO and president of Mariner Wealth Advisors. “As we continue to prioritize what matters most to us—delivering an unparalleled experience and optimal outcomes for our clients—this collaboration promises to bring forth a wealth of opportunities for growth and success.”
Cynthia Meyers founded Confluence Financial Planning in 1983 to establish a firm whose services would “diverge from the traditional investment-driven world of financial planning,” the announcement further notes. As such, Confluence’s approach is guided by a three-pronged financial planning model, incorporating a high level of client service, a “life” approach to financial planning, and an individualized process to advise upon its 285 clients, who represent $360 million in AUM.
“The name ‘Confluence’ reflects the strength of the firm, the sense of collaboration we have with our clients, and the richness of life’s possibilities,” stated Meyers. “Though we have long prided ourselves on our ability to support our clients through a combination of in-house support and outside referrals, I have no doubt our clients will be as thrilled as we are that the confluence of these two firms will now allow us to utilize Mariner’s wide breadth of service offerings to address each of their needs under one roof.”
As of the end of June 2023, Mariner Wealth and its affiliates advised on over $114 billion in assets. Most recently, the firm announced in November 2023 that it had acquired Baystate Wealth Management and in September had acquired Klevens Capital Management, further boosting its investment and wealth management capabilities.
