What You Need to Know
- With the addition of Viewpoint Financial Network in California, Mariner Wealth Advisors and its affiliates now advise clients with over $56 billion in assets.
- Mariner now has 67 offices nationwide after gaining one office each in Los Angeles and the San Francisco Bay Area.
- The transaction closed on Dec. 30 and financial terms weren't disclosed.
Mariner Wealth Advisors has bought Viewpoint Financial Network, a Pleasanton, California-based firm that oversees $950 million in assets, Mariner said Wednesday.
The deal, Mariner’s 14th transaction to close in 2021, allowed the RIA to add its eighth and ninth offices in California and boosted its nationwide tally to 67 offices in 31 states. Financial terms were not disclosed.
The firm and its affiliates now advise clients with over $56 billion in assets, it said. Mariner embarked on an aggressive growth strategy in July, after a minority stake was taken in it by private equity firm Leonard Green & Partners. That added almost $13 billion in assets under advisement throughout the last two quarters, Mariner said.
The deal with Viewpoint adds to Mariner’s rapidly growing U.S. footprint, with an office in the Los Angeles metropolitan area and another office in the San Francisco Bay Area.