Mariner picks up $1 billion RIA

Acquisition-hungry Mariner Wealth Advisors, a large Leawood, Kan.-based investment adviser, has picked up a $1 billion firm in the Northeast. Looking to bolster its presence in that region, Mariner bought a majority interest in State College, Pa.-based Vantage Investment Advisors, according to an announcement Monday. Vantage will continue to operate under its current name. The deal marks a significant increase in Mariner's assets under management. The firm had around $11.5 billion in assets as of November, having grown significantly through mergers and acquisitions since its founding in 2006. The financial terms of the deal were not disclosed. Executives were not immediately available for comment. Vantage has around 14 employees, about six of whom work in an advisory function, according to SEC registration records. Mariner got its first major foothold in the Northeast with the acquisition of a New Jersey firm, Brinton Eaton Associates Inc., in 2012. In 2013, it took a majority stake in New York-based RR Advisory Group, followed by the purchase of an $817 million New Jersey firm, Housen Financial Group.