Mariner Wealth Advisors has struck a deal to buy Pennsylvania-based Corbenic Partners for an undisclosed sum.
The deal mark’s the US-based wealth advisory firm’s fourth acquisition this year and marks its sixth office in Pennsylvania and 74th location nationwide.
Corbenic Partners, which oversees $1bn in assets, will operate under the Mariner Wealth Advisors brand following the close of the transaction.
Established over three decades ago by Brad Griswold, the firm has a team of eight employees currently.
Mariner Wealth Advisors CEO and president Marty Bicknell said: “As we continue to see great success with our growth strategy, we’re always seeking out firms that will add unique value to our diverse team of advisors.
“Corbenic Partners has had great success serving its clients, and we are excited to add their expertise and capabilities of working with unique client groups to the Mariner family.”
Commenting on the deal, Griswold said: “Mariner Wealth Advisors, as a leader in the wealth advisory industry, offers Corbenic Partners a foundation to grow and serve both our clients and our team of advisors in the coming years.
“Partnering with a firm such as Mariner Wealth Advisors allows us the opportunity to continue our goal of being the trusted advisor for the clients and families we serve.”
The latest deal follows Mariner’s acquisition of Michigan-based Emerson Wealth last month. Emerson Wealth expanded the firm’s Midwest footprint and added its second office in the greater Detroit area and third in Michigan.