Mariner Adds $878M in AUM with Two Deals
Mariner has expanded its reach in Florida and California with the acquisitions of two firms, totaling $878 million in assets under management. These are the first two transactions for the Overland Park, KS-based RIA acquirer since receiving an investment from Neuberger Berman Capital Solutions in October.
Atlas Financial in Sarasota, Florida, will be Mariner’s eighth office in the state, while Newport Advisory in Newport Beach, CA, will be the firm’s 19th. Financial terms of the transactions, which closed on Monday, were not disclosed. Both firms embraced the Mariner name and continue to operate with their current teams.
“These firms bring a wealth of expertise and a client-first ethos that perfectly align with our values,” said Marty Bicknell, CEO and president of Mariner. “Their addition strengthens our capabilities while underscoring our belief that true growth comes from building strong, meaningful relationships-both with our clients and within our team.”
Founded in 1995 by Jim Regitz, Newport Advisory and its 12-member team manage $600 million in client assets, taking “a holistic approach” to financial planning. Atlas Financial, founded by Orion Marx, manages $278 million in assets. The team offers retirement, estate, education, and business succession planning to business owners and retirees.
Mariner, which is majority owned by Bicknell and minority backed by private equity firm Leonard Green & Partners, was founded in 2006 with $300 million in assets under advisement. Along with its affiliates, it advised on more than $253 billion in assets as of September of this year. It has 126 offices nationwide.
Dalphia Partners served as the exclusive financial advisor to Atlas Financial in the transaction.