Mariner picks up $1 billion RIA

Acquisition of Vantage Investment Advisors bolsters fast-growing Mariner Wealth Advisors' presence in the Northeast.
OCT 29, 2014
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.

Latest News

Ameriprise, advisor on the hook to pay Edward Jones $4.7 million in trade secrets lawsuit.
Ameriprise, advisor on the hook to pay Edward Jones $4.7 million in trade secrets lawsuit.

In a constant fight over control of clients, the financial advice industry has a long history of such allegations and disputes.

Powering retirement for Wall Street
Powering retirement for Wall Street

Retirement fintech Vestwell has hit profitability and $200 million in annual recurring revenue, powering savings programs for 750,000 employers and Wall Street’s biggest firms

FINRA fines Vanguard $950,000 over decade of cost basis errors
FINRA fines Vanguard $950,000 over decade of cost basis errors

Faulty Forms 1099 and account statements reportedly left some Vanguard brokerage customers overpaying or underpaying taxes for over a decade.

More ETFs, more opportunity, more homework
More ETFs, more opportunity, more homework

The democratization of ETFs cuts both ways

Advisor moves: Raymond James, Baird add significant teams in latest recruiting push
Advisor moves: Raymond James, Baird add significant teams in latest recruiting push

Independent broker-dealers snap up experienced advisors as competition for established practices intensifies.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains