Mariner Wealth Advisors, an Overland Park, Kansas-based firm that advises on $50 billion, will acquire Portland, Oregon-based Cascadia Advisory Services, which oversees $775 million in assets.
The terms of the acquisition, which is expected to close by the end of the year, were not disclosed.
Cascadia has 20 associates and more than 800 clients, according to a statement. Its office will be Mariner's second in Portland.
Two affiliate firms of Cascadia, which operate under the brands Adler Mechals Group and Vivid Wealth, also will join Mariner as a result of the acquisition.
New chief executive Rich Steinmeier replaced Dan Arnold on October 1.
The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.
Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.
New survey finds varied levels of loyalty to advisors by generation.
Busy day for results, key data give markets concerns.
A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.
Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.