Mariner Wealth Advisors Expands with Acquisition of Institutional Consulting Firms
Mariner Wealth Advisors, a leading wealth management firm in the United States, is set to acquire two institutional consulting firms in a move that will significantly strengthen its presence in the institutional client market. The combined assets under advisement (AUA) of the two firms amount to an impressive $104 billion.
With this acquisition, Mariner's AUA will nearly double, increasing from $122 billion at the end of last year. The two firms being acquired are AndCo Consulting, based in Winter Park, Florida, and Fourth Street Performance Partners, based in Covington, Kentucky. Both firms specialize in serving government, corporate, and nonprofit institutional clients.
The transaction is expected to be finalized in early April, and the two firms will be merged under a new brand called Mariner Institutional. By combining their expertise and client bases, Mariner aims to provide expanded services and more comprehensive solutions to its existing clients and prospects.
Marty Bicknell, the CEO and president of Mariner Wealth Advisors, expressed his excitement about the acquisition, stating, "The complementary nature of our clients and services will support our joint growth and offer existing clients and prospects additional services that will help enhance the overall client outcome."
As part of the acquisition, both AndCo Consulting and Fourth Street Performance Partners will retain their 100 professionals and continue serving clients from their current locations in Covington, KY, Winter Park, FL, Chicago, Dallas, Detroit, Pittsburgh, Cleveland, and Reno, NV.
Headquartered in Overland Park, Kansas, Mariner Wealth Advisors has become one of the largest registered investment advisor firms in the country since its establishment in 2006. Through strategic recruitment of advisors and acquisitions of other firms, the company has amassed $65.9 billion in assets under management.
Mariner Wealth Advisors is supported by private-equity firm Leonard Green & Partners.
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