Mariner Purchases Two RIAs, Adding $1.8B to AUM
Mariner Wealth Advisors has acquired two registered investment advisor firms, adding $1.8 billion to its assets under management.
Mariner acquired Rockland, MA-based First National Advisors, which was founded in 1978 by Robert Goulding. The firm serves clients in the dental and medical sector and includes five advisors and eight associates, which oversees about $1.5 billion in total client assets.
The firm, which joined Mariner on January 2, also operates a program called True Wealth MD program, which delivers “holistic” wealth planning tailored specifically for physicians and healthcare professionals. Following the acquisition, the program has been incorporated into Mariner’s offerings.
Mariner also acquired Pittsburgh-based RIA Strava Wealth, which was founded in 2002 and offers investment management, tax planning, risk management, and estate planning. Strava Wealth includes advisors and two staff members, which oversees about $360 million in total client assets.
Strava Wealth, which joined Mariner on December 31, was originally founded as K.S. Wright Associates.
“Mariner is built around advisors who are deeply committed to their clients,” Marty Bicknell, president and CEO of Mariner, said. “As clients’ financial lives become more complex, advisors who join us are surrounded by the support they need to keep growing, expand their capabilities and stay focused on clients—momentum that allows us to reach more people and fulfill our purpose of positively impacting the lives of many.”
Recently, Mariner added two RIAs and one consulting firm, boosting Mariner’s assets under administration to $6.7 billion.
Mariner added Rochester, NY-based Forté Capital and Scottsdale, AZ-based Ultra Financial Partners. Separately, Mariner added Atlanta-based Southeastern Advisory Services, a pension consultancy firm, into its institutional division.
Overland Park, KS-based Mariner Wealth Advisors, founded in 2006, oversees $609 billion in assets under advisement and management and has 124 locations across the country, including an office in Puerto Rico.