Mariner Wealth Advisors, a wealth advisory firm based in Kansas, has acquired Indiana-based RIA Martin Financial Group.

Headquartered in New Albany, Martin employs eight professionals and oversees $250m in assets.

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The transaction, whose financial terms were not revealed, marks Mariner’s second location in Indiana.

The deal expands Mariner’s branch network to 28 offices across 20 states. The firm currently has more than 240 wealth advisers and over 500 associates.

Martin principal Wesley Martin said: “This relationship with Mariner Wealth Advisors will allow us to focus on what matters most: spending time with clients, while also gaining exceptional investment and back-office support. It’s a win-win for our clients and associates.”

Set up in 2006, Mariner managed $300m at the time of inception. At the end of November 2018, the firm reported over $23bn in assets under advisement.

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In November last year, Mariner announced the acquisition of Texas-based Patriot Wealth Management that manages around $2bn in assets.

Commenting on the latest deal, Mariner CEO Marty Bicknell said: “I am incredibly pleased to welcome Martin Financial Group to the Mariner Wealth Advisors family.

“Its professionals have an exceptional history of delivering for clients, and they share our focus on providing holistic wealth advisory services to meet a wide range of needs.”