Mariner Wealth Advisors today announced that it has acquired Barley Mill Asset Management, a Wilmington, Del.-based firm with nearly $700M in assets, according to a news release.
This marks the eighth deal and the first Delaware office for the Kansas City-based Mariner Wealth Advisors since July. Barley Mill assumed the Mariner Wealth Advisors name when the deal closed, and the Wilmington location remains under the leadership of Paul Dorsey, founder of Barley Mill Asset Management, the release said.
Financial terms were not disclosed.
Dorsey said the team believes the partnership with Mariner Wealth Advisors is the right step in continuing to serve their clients for the long term. “Our mission has always been to assist our clients in reaching their goals by developing an objective and comprehensive investment strategy,” he said in a statement. Barley Mill serves nearly 600 clients in over 340 households.
“I can’t think of a more notable group of associates than the team at Mariner Wealth Advisors, and we’re humbled to expand with Barley Mill Asset Management as we grow our national footprint,” said Marty Bicknell, CEO and president of Mariner Wealth Advisors. “The sky’s the limit for this team, and there’s even more growth to come. Growth not only brings opportunities for our clients, but our associates as well.”
Since July, Mariner Wealth Advisors has added nearly $15 billion in assets under advisement. The firm was founded in 2006 with $300 million in AUA and has grown to $50 billion in assets. The firm has 58 locations across 30 states.