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Towson financial firm acquires 1st Mariner’s investment arm

1st Mariner bank. (Maximilian Franz / The Daily Record)

1st Mariner bank. (Maximilian Franz / The Daily Record)

Investment services customers of a Baltimore bank now have their accounts with a Towson financial firm, and both companies expect the change to be seamless.

Synergy Financial Group is acquiring 1st Mariner Bank’s investment services division in a deal announced this week. Effective immediately, SFG advisors will be working with former clients of 1st Mariner Financial Services Inc.

“We are very selective when considering acquisitions and partnership opportunities, and we have great respect for 1st Mariner Bank as a Baltimore banking institution,” said Larry Leitch, partner and co-founder of SFG. “We share similar values in personalized service and best-in-class products, and we are confident that we can provide immediate value to our new clients.”

Robert D. Kunisch, Jr, President and COO of 1st Mariner Bank. (The Daily Record/Maximilian Franz)

Robert D. Kunisch, Jr, President and COO of 1st Mariner Bank. (The Daily Record/Maximilian Franz)

1st Mariner opted to sell its investment arm so the Baltimore bank can focus on the banking side of its business, President and COO Rob Kunisch said in a statement. The financial terms of the deal were not disclosed.

“By transitioning our financial services division to Synergy Financial Group, 1st Mariner is better able to focus our resources on the bank’s core areas of expertise: providing the best business and personal banking products with unbeatable personalized customer service,” Kunisch said.

Steve Spurrier, partner and co-founder of SFG said the acquisition is in line with the financial firm’s growth strategy.

All advisers of both firms offer securities through LPL Financial, which serves more than 14,000 advisers and 700 banks and credit unions. The leadership teams at both SFG and 1st Mariner said they are confident the transition will be seamless for clients of SFG and 1st Mariner Financial Services, Inc.

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