Mariner Wealth Advisors announced it will acquire Executive Wealth Counselors LLC, a Pittsburgh-based firm that oversees $256 million assets under advisement.

The deal, which is expected to close at the end of the month, marks the seventh office in Pennsylvania and second in the Pittsburgh area for the Overland Park, Kan.-based firm, Mariner said in a news release yesterday.

Executive Wealth Counselors will assume the Mariner Wealth Advisors name when the deal closes and will continue to operate with its team in place, the release said.

Founded in 2007, Executive Wealth Counselors is led by owner Louis “Lou” Valli, who registered in the industry in 2020, according to BrokerCheck. The firm has four associates, including three advisors, who specialize in offering personalized wealth, investment and portfolio management to high-net-worth clients, the release said.

“Partnering with Mariner Wealth Advisors lends us the broad and extensive capabilities of a top- tier wealth advisory firm while still allowing us to maintain our personalized client-centric philosophy and approach, which is something we take great pride in,” Valli said in a statement. “I’m confident this move will give both our clients and our advisors the growth opportunities they deserve.”

Mariner Wealth Advisors CEO and president Marty Bicknell said they are “thrilled to welcome the incredible team at Executive Wealth Counselors to our growing family. Not only are they highly capable in helping their clients reach their goals, but they also understand the value of true client service and getting to know the person behind the portfolio. This firm folds in perfectly to what we do here at Mariner Wealth Advisors, and I think our services and growth opportunities are a perfect match for their advisors.”

Bicknell said that talent is a key focus when acquiring firms. “Continuing to add talented wealth advisors is a crucial part of our ongoing inorganic growth strategy. We want to be able to help as many people as possible with our services and solutions,” he said. “This will be an ongoing effort for us for the foreseeable future.”

Founded in 2006 with $300 million in assets under advisement, Mariner Wealth Advisors and its affiliates now advise on over $60 billion in assets in 77 locations nationwide.