Mariner's 2025 deal calendar is off to a strong start.
On Thursday, Mariner announced the acquisition of Cardinal Investment Advisors, adding $292 billion in assets under advisement to its Mariner Institutional division.
The deal brings Mariner's total assets under advisement to approximately $550 billion as of the first quarter of 2025 and integrates Cardinal’s team of about 40 employees into its operations.
“This acquisition kickstarts a year that will be filled with growth, innovation, and a relentless pursuit of providing the best client-focused financial services,” Marty Bicknell, CEO and president of Mariner, said Thursday morning. “Today marks a defining chapter for Mariner in becoming the premier partner for institutional consulting services.”
In October, the firm received fresh backing for its growth strategy, with ambitions to grow its advisor base to 5,000, via an investment from Neuberger Berman. Following that infusion, Mariner expanded its presence on both the East and West Coast in December, adding $878 million in assets with acquisitions in Florida and California.
Founded in 2001, Cardinal Investment Advisors specializes in customized investment consulting for insurance companies, corporate retirement plans, healthcare systems, foundations, and endowments. The firm, which operates out of Chicago and St. Louis, will now serve as the insurance advisory practice within Mariner Institutional. Its longstanding commitment to tailored client solutions and workplace excellence has earned it recognition as one of the best places to work in money management for 10 consecutive years.
“Joining Mariner Institutional will enable the combined team to deepen the impact we have with our clients and expand our reach,” said Marc Tourville, president of Cardinal Investment Advisors. “Together, we will address the unique challenges facing institutional investors and deliver the innovative, reliable solutions they need to achieve their goals.”
The acquisition is aligned with Mariner’s broader strategy to expand institutional consulting services in response to growing market complexities.
“By bringing Cardinal’s experienced capabilities and talented team members into the fold, we’re not only enhancing our service offerings but also strengthening our position as a trusted partner to institutions,” said Mike Welker, national managing director of Mariner Institutional.
The integration of Cardinal into Mariner is expected to conclude by the end of March, part of the firm’s “One Mariner” strategy to enhance customized client solutions across its platform.
A $141M judgment and a federal asset freeze collide over one shrinking pool
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
