Mariner Wealth Adds $1.8B Boston Wealth Team

By Janet Levaux

News November 13, 2023 at 01:49 PM

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Mariner Wealth Advisors said it is buying Baystate Wealth Management, a firm with $1.8 billion in assets under management and 13 employees. In addition to working with investors, Baystate serves as an outsourced investment manager for advisors and runs a third-party investment offering.

"Not only does Baystate's advanced approach to investment portfolios fold perfectly into Mariner's catalog of strategies, bolstered by their team of talented professionals, but their values also align with ours," Mariner CEO Marty Bicknell said in a statement.

Baystate was founded by Thomas O'Connor and Dave Porter in 2009.

"I am so proud of what this group of professionals has built, and joining Mariner Wealth Advisors is the natural next step to ensure they can continue building on our unique offerings to the industry while still putting the client first," O'Connor said. "This move will provide us with the opportunity to grow in ways we've never dreamed possible."

The deal, which is Mariner's third in Massachusetts and 98th in the United States is expected to close on Jan. 1. Overland Park, Kansas-based Mariner and its affiliates worked with over $114 billion in client assets as of June 30.

Pictured: Marty Bicknell

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