Mariner Acquires California Wealth Planner

Mariner Wealth Advisors announced Tuesday that it acquired Confluence Financial Planning on Dec. 31, making it the firm’s seventh acquisition of 2023.

Confluence Financial Planning, with 285 clients and about $360 million in assets under management, has assumed the Mariner Wealth Advisors name, retains its six associates and continues its operations from its office in Sacramento, California, becoming Mariner’s first office in the city and 15th in the state.

“The remarkable economic growth in the greater Sacramento region, coupled with the success of Confluence Financial Planning, made this acquisition a strategic union of thriving environments and proven expertise,” Marty Bicknell, CEO and president of Mariner Wealth Advisors, said in the announcement. 

Cynthia Meyers founded Confluence Financial Planning in 1983 to establish a firm whose services would diverge from the traditional investment-driven world of financial planning.

“The name ‘Confluence’ reflects the strength of the firm, the sense of collaboration we have with our clients, and the richness of life’s possibilities,” Meyers said in the announcement.

“Though we have long prided ourselves on our ability to support our clients through a combination of in-house support and outside referrals, I have no doubt our clients will be as thrilled as we are that the confluence of these two firms will now allow us to utilize Mariner’s wide breadth of service offerings to address each of their needs under one roof,” Meyers said.  

Mariner’s latest acquisition follows its November purchase of Bay Wealth Management, a Boston firm with $1.8 billion in assets under management and 13 employees.

In June, the firm rolled out Mariner Financial Wellness, a platform for businesses to offer wealth planning and financial guidance for employees. Mariner launched the platform after acquiring Spring, a company that provided businesses with financial wellness benefits for their employees.