Midwestern Mariner sails into the Northeast with acquisition

Mariner Wealth Advisors gains majority stake in New Jersey firm with $817M in assets

Apr 21, 2014 @ 3:48 pm

By Trevor Hunnicutt

acquisition, advisory, registered investment adviser, RIA
+ Zoom

Mariner Wealth Advisors, a large independent advisory firm, has acquired a majority stake in a northeastern U.S. firm that manages $817 million in assets.

The acquisition of the stake in Manasquan, N.J.-based Housen Financial Group Inc. boosts the Leawood, Kan. registered investment adviser’s assets under management to $9.5 billion, about a quarter of which are now in the northeast, according to a statement Monday.

Terms were not disclosed.

Mariner got its first major foothold in the region with the acquisition of another New Jersey firm, Brinton Eaton Associates Inc., in 2012.

They also took a majority stake in New York-based RR Advisory Group last year.

The firm’s parent company, Mariner Holdings, is led by chief executive Martin C. Bicknell and also includes $20 billion asset manager Montage Investments and FirstPoint Financial, an advice service with no asset minimums.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

Events

Perspectives from a NextGen adviser

Male advisers still outnumber female advisers 4 to 1. Allei Holway of AXA talks about why becoming an adviser appealed to her and why more millennials are a good fit for this industry.

Latest news & opinion

Sean Spicer resigns as press secretary after Anthony Scaramucci is appointed communications director

Scaramucci is known as an ardent foe of the DOL fiduciary rule, having said during the campaign that Trump would repeal it .

Redoing the math on a 4% retirement withdrawal rate

Given the current interest-rate environment and other factors, advisers disagree about whether the number is too conservative or not conservative enough.

House panel passes bill to replace DOL fiduciary rule with one requiring disclosure of conflicts

Measure likely to continue in partisan advance in House, but could stall in Senate.

Morgan Stanley says recruiting and attrition have slowed down

If wirehouses can successfully reduce their reliance on signing bonuses to recruit brokers, they could increase profits.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print