A billion dollar-plus trio of advisors has left the Focus Financial platform to join Mariner's independent channel, marking a milestone for the Kansas-based mega-RIA.
Mariner Independent announced Tuesday that John Buckingham, Jason Clark, and Christopher Quigley have launched their own firm with $1.3 billion in client assets under the new name Mosaic Value Partners, making it the largest to debut on the platform to date.
Buckingham, Clark, and Quigley were affiliated with Kovitz Investment Group since before 2020, according to their respective records with the SEC. Kovitz was integrated into Focus Partners Wealth, one of Focus' five major internal wealth hubs, earlier this year.
Three additional team members, including two licensed professionals, joined the advisor trio at launch.
The firm is built around a value investing approach and plans to revive a research publication the team had previously developed, called Value Investor Perspectives, which had reached tens of thousands of subscribers through weekly and monthly content.
Rob Sandrew, head of Mariner Independent, said in a statement that Mosaic Value Partners "brings together a disciplined investment philosophy with a differentiated client engagement model."
Buckingham said the team sought a partner that could "support that foundation while giving us the resources to expand and evolve," adding that Mariner Independent "provides the infrastructure and capabilities we need without changing who we are."
Mariner Independent is positioned as a platform for advisors seeking to operate independently while accessing integrated planning, estate, tax and insurance capabilities through Mariner's in-house specialist teams.
Birmingham-based Waverly Advisors has acquired TruWealth Advisors, a New Orleans-area wealth management firm with $3.1 billion in assets as of Dec. 31.
The deal, which closed April 24, marks Waverly's entry into Louisiana and is the firm's 32nd transaction since taking an equity investment from Wealth Partners Capital Group and HGGC's Aspire Holdings platform in December 2021.
TruWealth was founded in 2020 by Chuck Simmons and has grown to a 31-person team operating out of offices in Mandeville and Metairie, Louisiana. Simmons will continue leading the Louisiana offices in his new role as partner and wealth advisor at Waverly, while Jim Parrie, who served as general manager and chief operating officer at TruWealth, joins as partner and regional director. The full TruWealth team is moving to Waverly.
Justin Russell, president and CEO of Waverly, said in a statement that TruWealth's "investment outlook and client service approach aligns closely with Waverly's."
Simmons said in the statement that joining Waverly allows his firm to maintain its commitment to client-first advice "while providing clients with enhanced resources, broader planning capabilities and access to an expanded team."
Building on its acquisitions of Pure Portfolios in February and McBride Financial Advisors in March, Waverly's total assets under management to approximately $34.2 billion as of April 24.
Carson Group has acquired Harbor Wealth Management, a Green Bay, Wisconsin-based RIA managing approximately $396 million in assets.
Harbor Wealth, led by partners and senior wealth advisors Eric Heus and Brent Polzin, will rebrand as a Carson Wealth office – the firm's integrated model – rather than operating under Carson's independent affiliate structure.
The acquisition formalizes a relationship that dates back more than a decade. Harbor Wealth first connected with Carson through its coaching program before formally joining Carson's independent advisor model in June 2016.
Heus said in a statement that "becoming an integrated office allows us to build on that foundation in a more meaningful way," adding that the firm can access "a broader bench of expertise, technology and support" while maintaining a "highly personal, family office-style experience."
Carson Group manages over $57 billion in assets across a network of more than 165 partner offices, including more than 50 Carson Wealth locations serving upward of 60,000 client families.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
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