<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/thirteenffiler" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>13F-HR/A</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>true</returnCopyFlag>
        <overrideInternetFlag>true</overrideInternetFlag>
      </flags>
      <filer>
        <credentials>
          <cik>0001442056</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>06-30-2019</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>06-30-2019</reportCalendarOrQuarter>
      <isAmendment>true</isAmendment>
      <amendmentNo>1</amendmentNo>
      <amendmentInfo>
        <amendmentType>RESTATEMENT</amendmentType>
      </amendmentInfo>
      <filingManager>
        <name>CONFLUENCE INVESTMENT MANAGEMENT LLC</name>
        <address>
          <com:street1>20 ALLEN AVENUE, SUITE 300</com:street1>
          <com:city>ST. LOUIS</com:city>
          <com:stateOrCountry>MO</com:stateOrCountry>
          <com:zipCode>63119</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-13334</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Steven P. Farmer</name>
      <title>Chief Compliance Officer</title>
      <phone>314-743-5298</phone>
      <signature>Steven P. Farmer</signature>
      <city>Naperville</city>
      <stateOrCountry>IL</stateOrCountry>
      <signatureDate>06-02-2020</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>1</otherIncludedManagersCount>
      <tableEntryTotal>344</tableEntryTotal>
      <tableValueTotal>6250264</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
      <otherManagers2Info>
        <otherManager2>
          <sequenceNumber>1</sequenceNumber>
          <otherManager>
            <form13FFileNumber>028-06487</form13FFileNumber>
            <name>First Trust Advisors L.P.</name>
          </otherManager>
        </otherManager2>
      </otherManagers2Info>
    </summaryPage>
  </formData>
</edgarSubmission>
