Overland Park Firm Expands Reach with Two Major Acquisitions
Overland Park, Kansas – Mariner Wealth Advisors, a prominent wealth management firm, has taken a significant step in its growth strategy by acquiring two financial advisory practices with a combined total of approximately $878 million in assets under management (AUM). This move, announced recently, marks Mariner’s commitment to expanding its operations and increasing its advisor network.
Details of the Acquisitions
The two firms acquired are Atlas Financial, based in Sarasota, Florida, which manages about $278 million in AUM, and Newport Advisory, located in Newport Beach, California, with an AUM of around $600 million. With these acquisitions, Mariner not only bolsters its asset base but also establishes its second offices in both locations, bringing its total number of offices across the United States to 126.
Who are the New Partners?
Atlas Financial was founded by Orion Marx and initially affiliated with Lincoln Financial Advisors, a business that was acquired by Osaic earlier this year. The firm specializes in retirement, estate planning, education funding, and business succession planning for clients, particularly business owners and retirees. Marx expressed enthusiasm about joining Mariner, stating, “Joining forces with Mariner unlocks a wealth of resources, expertise, and services that will enhance our ability to support our clients and their businesses every step of the way.”
On the other hand, Newport Advisory, established in 1995 by Jim Regitz, has been affiliated with Cambridge since 1999. The firm, now part of Mariner, consists of a twelve-person team that aims to leverage the partnership to elevate their client service delivery. Regitz termed this acquisition a “transformative new chapter” for his firm, highlighting the expanded resources available through Mariner.
Growth Strategy and Future Goals
Mariner Wealth Advisors, co-founded in 2006 by CEO and President Marty Bicknell, is on an ambitious path to expand its advisor network. The firm aims to reach 5,000 advisors by 2027. As of September 30 of this year, Mariner reported 1,828 advisors operating across various channels.
In a strategic move aimed at supporting this growth, Mariner recently sold a minority stake in the firm to Neuberger Berman Capital Solutions and affiliated funds, generating $150 million in equity. This investment is expected to bolster Mariner’s capability to invest further in its operations and expand its reach in the wealth management sector.
Industry Context
This acquisition reflects a broader trend within the wealth management industry, where firms are increasingly pursuing growth through mergers and acquisitions. The consolidation strategy enables firms like Mariner to enhance their service offerings, tap into new markets, and expand their client base effectively. As the competition intensifies in the wealth management landscape, companies are looking for innovative ways to differentiate themselves and meet the ever-evolving needs of their clients.
Conclusion
With these acquisitions, Mariner Wealth Advisors not only increases its assets but also solidifies its footprint in key markets across the country. As the firm continues on its ambitious growth trajectory, it remains focused on enhancing its services and delivering value to clients while pursuing its goal of significantly expanding its advisor assembly by 2027.
