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

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

How 401(k) advisers can use 'centers of influence' to grow their business

Leveraging relationships with accounting, benefits, and property and casualty insurance firms can help deliver new business leads for retirement plan advisers.

Latest news & opinion

Brokers accept proposed SEC rule on who can call themselves an adviser

Some say the rule will clear up investor confusion, but others say the SEC didn't go far enough.

SEC advice rule: Here's what you need to know

We sifted through the nearly 1,000-page proposal and picked out some of the most important points.

Cadaret Grant acquired by private-equity-backed Atria

75-year-old owner Arthur Grant positions the IBD for the 'next 33 years.'

SEC advice rule seeks to tighten reins on brokers

The proposed rule puts new restrictions on brokers, but it is still unclear how strongly the SEC is clamping down.

SEC advice rule hearing updates

Commission says a lot of work ahead, public will have 90 days to comment.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print