Overland Park, Kan.-based RIA acquirer Mariner has expanded its footprint in Florida and California with the acquisitions of two corporations including $878 million in belongings beneath administration, in accordance with a information launch as we speak. These are the primary two offers for Mariner because it obtained an funding from Neuberger Berman Capital Options on October 29.
Sarasota, Fla.-based Atlas Monetary will probably be Mariner’s eighth workplace in Florida, whereas Newport Seashore, Calif.-based Newport Advisory is the agency’s nineteenth in California. The monetary phrases of the offers, which closed Monday, weren’t disclosed. Each corporations adopted the Mariner title and proceed to function with their current groups in place, the discharge mentioned.
Based in 1995 by Jim Regitz, Newport Advisory and its 12-member staff handle $600 million in AUM. The staff “takes a holistic method to monetary planning, incorporating each facet of a shopper’s monetary life to create methods that align with their targets and values,” the discharge famous.
“Becoming a member of Mariner marks a transformative new chapter for Newport Advisory,” Regitz mentioned in a press release. “This partnership not solely strengthens our capability to serve our purchasers but in addition opens the door to unparalleled assets and experience that can elevate the extent of care and options we ship. Whereas we embrace this thrilling evolution, our dedication to a holistic, client-centric philosophy stays steadfast, making certain that each resolution we make continues to prioritize the distinctive wants and aspirations of these we’re privileged to serve.”
Atlas Monetary, based by Orion Marx 25 years in the past, manages $278 million in AUM. The staff “emphasizes constructing long-term shopper relationships whereas providing tailor-made companies resembling retirement, property, schooling, and enterprise succession planning,” the discharge mentioned, noting that the agency serves present and future enterprise homeowners and retirees.
“At Atlas Monetary, we’re devoted to serving to our purchasers navigate their distinctive journeys—whether or not they’re targeted on constructing wealth, preserving it, or just having fun with the fruits of their labor,” mentioned Marx. “Becoming a member of forces with Mariner unlocks a wealth of assets, experience and companies that can improve our capability to assist our purchasers and their companies each step of the way in which. Making certain their success stays our prime precedence, and I’m thrilled to embark on this subsequent chapter as a part of the Mariner household.”
Marty Bicknell, Mariner’s CEO and president, mentioned, “As we welcome Atlas Monetary and Newport Advisory to the Mariner household, we’re reinforcing our dedication to assembly purchasers the place they’re, each geographically and of their distinctive monetary journeys.” He added, “These corporations convey a wealth of experience and a client-first ethos that completely align with our values. Their addition strengthens our capabilities whereas underscoring our perception that true development comes from constructing sturdy, significant relationships—each with our purchasers and inside our staff.”
Mariner was based in 2006 with $300 million in belongings beneath advisement. Together with its associates, it suggested on greater than $253 billion in belongings as of September of this 12 months. It has 126 workplaces nationwide.
