Mariner is acquiring two firms to add approximately $1.7 billion to its assets under advisement and boost its capabilities.
The mega-RIA has picked up firms in Rochester, New York, and Scottsdale, Arizona, with the deals due to close in the next six weeks with the two acquired firms adopting the Mariner name and branding.
“The firms that stand out are the ones that anticipate how client needs will evolve over time,” says Marty Bicknell, CEO and president of Mariner.
Forté Capital was founded almost 30 years ago and has built up to a firm with clients in 20 states including nonprofits, individuals, families and institutions. It’s led by managing directors David Henion, CPA, Adil Masood, CPA and Edmond Sheidlower, CMFC, and includes 13 financial advisors and 16 total associates.
Although Mariner is represented by five locations in New York state, this is only its second in Upstate New York and its first in Rochester.
“For more than 20 years, we’ve built Forté Capital around the idea that sound financial guidance should evolve with our clients through every stage of life,” said Henion. “As our firm continued to grow, we recognized the opportunity to expand our offerings in a way that better serves our clients and allows us to attract new ones. Joining with Mariner allows us to do exactly that while leveraging the scale of its programs to drive long-term growth.”
In Arizona, Mariner already has two Scottsdale offices and the four-strong team from its latest acquisition will join one of these.
Ultra Financial Partners is a full-service retirement and financial planning firm specializing in advising federal employees, physicians and business owners, as well as individuals and families. It was founded just four years ago by breakaways from Claraphi Advisory Network.
“Our mission has always been to deliver exceptional value, a philosophy that has guided our client-centric practice and reinforced the deep commitment we bring to innovation and personalized service,” said Logan Varela, president of Ultra Financial Partners. “We look forward to collaborating with Mariner’s team of industry-leading professionals to further enhance our clients’ financial success.”
The agent, Todd Bernstein, 67, has been charged with four counts of insurance fraud linked to allegedly switching clients from one set of annuities to another.
“While harm certainly occurred, it was not the cataclysmic harm that can justify a nearly half billion-dollar award to the State,” Justice Peter Moulton wrote, while Trump will face limits in his ability to do business in New York.
Sieg, 58, was head of Merrill Wealth Management, left in 2023 and returned that September to Citigroup, where he worked before being hired by Merrill Lynch in 2009.
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