Mariner's 2025 deal calendar is off to a strong start.
On Thursday, Mariner announced the acquisition of Cardinal Investment Advisors, adding $292 billion in assets under advisement to its Mariner Institutional division.
The deal brings Mariner's total assets under advisement to approximately $550 billion as of the first quarter of 2025 and integrates Cardinal’s team of about 40 employees into its operations.
“This acquisition kickstarts a year that will be filled with growth, innovation, and a relentless pursuit of providing the best client-focused financial services,” Marty Bicknell, CEO and president of Mariner, said Thursday morning. “Today marks a defining chapter for Mariner in becoming the premier partner for institutional consulting services.”
In October, the firm received fresh backing for its growth strategy, with ambitions to grow its advisor base to 5,000, via an investment from Neuberger Berman. Following that infusion, Mariner expanded its presence on both the East and West Coast in December, adding $878 million in assets with acquisitions in Florida and California.
Founded in 2001, Cardinal Investment Advisors specializes in customized investment consulting for insurance companies, corporate retirement plans, healthcare systems, foundations, and endowments. The firm, which operates out of Chicago and St. Louis, will now serve as the insurance advisory practice within Mariner Institutional. Its longstanding commitment to tailored client solutions and workplace excellence has earned it recognition as one of the best places to work in money management for 10 consecutive years.
“Joining Mariner Institutional will enable the combined team to deepen the impact we have with our clients and expand our reach,” said Marc Tourville, president of Cardinal Investment Advisors. “Together, we will address the unique challenges facing institutional investors and deliver the innovative, reliable solutions they need to achieve their goals.”
The acquisition is aligned with Mariner’s broader strategy to expand institutional consulting services in response to growing market complexities.
“By bringing Cardinal’s experienced capabilities and talented team members into the fold, we’re not only enhancing our service offerings but also strengthening our position as a trusted partner to institutions,” said Mike Welker, national managing director of Mariner Institutional.
The integration of Cardinal into Mariner is expected to conclude by the end of March, part of the firm’s “One Mariner” strategy to enhance customized client solutions across its platform.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.
The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.
Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
