Mariner Expands Wealth Management Footprint with $878 Million Acquisition Deal

Mariner, a leading national financial services firm, has significantly expanded its wealth management portfolio and geographical reach through the acquisition of two established firms: Atlas Financial in Sarasota, Florida, and Newport Advisory in Newport Beach, California. The dual acquisition brings approximately $878 million in assets under management to Mariner, marking a substantial growth in the company's financial influence and client base.

This strategic move increases Mariner's national footprint to 126 offices across the United States, establishing second offices in both Sarasota and Newport Beach. The expansion is a crucial step towards Mariner's ambitious vision of growing to 5,000 advisors by 2027, demonstrating the company's commitment to aggressive yet calculated growth in the competitive financial services sector.

Marty Bicknell, CEO and president of Mariner, emphasized the significance of these acquisitions, stating, "These firms bring a wealth of expertise and a client-first ethos that perfectly align with our values." This alignment in values and approach to client service is expected to facilitate a smooth integration of the new firms into Mariner's existing operations.

Atlas Financial, with over 25 years of experience, brings to Mariner a strong focus on asset management, business continuity, and wealth transfer strategies. Their "Serve First" philosophy and expertise in areas such as retirement, estate, education, and business succession planning complement Mariner's existing service offerings. This acquisition strengthens Mariner's ability to serve business owners and retirees with comprehensive financial solutions.

Newport Advisory, founded in 1995, adds depth to Mariner's holistic approach to financial planning. Their 12-person team specializes in creating strategies that align with clients' goals and values, covering areas from retirement and education planning to tax strategies and liability management. This acquisition enhances Mariner's capacity to provide comprehensive, tailored guidance to a broader client base.

The integration of these firms into Mariner's operations is expected to yield significant benefits for clients. Access to Mariner's extensive resources and expertise will enable the newly acquired teams to offer enhanced services and solutions. This expansion of capabilities could potentially attract new clients seeking comprehensive wealth management services.

For the financial services industry, Mariner's growth strategy serves as a notable example of how firms can expand their reach and capabilities through strategic acquisitions. This approach allows for rapid expansion into new markets while simultaneously enhancing service offerings and expertise.

The acquisitions also highlight the ongoing trend of consolidation in the wealth management industry. As larger firms seek to expand their market share and service capabilities, well-established smaller firms with strong local presences become attractive targets. This trend is likely to continue as firms strive to achieve economies of scale and broaden their expertise in an increasingly complex financial landscape.

As Mariner integrates these new acquisitions, the financial services industry will be watching closely to see how the firm leverages its expanded footprint and increased assets under management. The success of these integrations could set a precedent for future mergers and acquisitions in the wealth management sector, potentially influencing industry-wide strategies for growth and market expansion.