Midwestern Mariner sails into the Northeast with acquisition

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.