Mariner Wealth Advisors announced that it will acquire Savant Investment Group, LLC, adding approximately $770 million in assets under advisement (AUA) on the heels of its summer acquisition spree.
The Emeryville, CA-based office will be the firm’s seventh office in the state and third in the Bay Area, according to the Nov. 18 announcement. What’s more, this is Mariner Wealth’s ninth announced acquisition since the start of the year, fueling the firm to hit growth milestones of 1,000 associates and 500 advisors.
“We’ve seen great success implementing our growth strategies and we’re just getting started,” Marty Bicknell, Mariner Wealth Advisors’ CEO and President, said in a statement. “Our growth has been driven by strategic acquisitions and we look for like-minded partners who can grow with us. I’m thrilled to continue adding to our team with an impressive firm like Savant Investment Group.”
Savant Investment Group currently serves more than 240 clients. In addition to financial planning and wealth management, the firm has developed a solutions-driven approach to providing tailored retirement plan services designed to evolve with the changing times. The firm’s background in retirement planning for businesses will bring added expertise to Mariner Wealth’s growing retirement plan solutions team.
“This is an incredible opportunity for our firm to expand our comprehensive financial planning experience to clients and to provide career development for our employees,” adds Scott Lummer, CEO and CIO of Savant Investment Group. “I’m excited to draw on Mariner Wealth Advisors’ broad array of services to bring even more value to our clients, from insurance and tax planning to estate and trust services.”
Lummer will continue to run the Emeryville office as managing director and all eight professionals will retain their current roles. The firm will assume the Mariner Wealth Advisors name when the deal closes. While the terms of the deal were not disclosed, Berkshire Global Advisors served as the exclusive financial advisor to Savant Investment Group in the transaction.
