It's been a while since Mariner secured financial backing from Neuberger Berman to support its growth strategy, but the RIA giant has finally gotten back in the acquisition saddle.
On Wednesday, Mariner broke its weeks-long deal silence by announcing it has acquired Atlas Financial in Sarasota, Florida, and Newport Advisory in Newport Beach, California.
Together, the two firms bring approximately $878 million in assets under management while extending the firm's operational footprint to include 126 locations across the US.
“As we welcome Atlas Financial and Newport Advisory to the Mariner family, we’re reinforcing our commitment to meeting clients where they are, both geographically and in their unique financial journeys,” Marty Bicknell, CEO and president of Mariner, said in a statement Wednesday. “These firms bring a wealth of expertise and a client-first ethos that perfectly align with our values.”
Founded in 1995, Newport Advisory employs a holistic approach to financial planning, offering services ranging from tax strategies to liability management. Its 12-person team will adopt the Mariner name while maintaining its client-focused philosophy.
“Joining Mariner marks a transformative new chapter for Newport Advisory,” said Newport Advisory founder Jim Regitz, . “This partnership not only strengthens our ability to serve our clients but also opens the door to unparalleled resources and expertise.”
Meanwhile, Atlas Financial, which has over 25 years of experience, focuses on asset management, business continuity, and wealth transfer strategies. The firm emphasizes a long-term approach to client relationships.
“Joining forces with Mariner unlocks a wealth of resources, expertise, and services that will enhance our ability to support our clients and their businesses every step of the way,” said Orion Marx, founder of Atlas Financial.
Mariner has secured its eighth Florida office with Atlas Financial, while Newport Advisory extends its portfolio of branches in California to 19 locations.
Counting by the days, the Wednesday double-deal comes just over a month after the $245 billion RIA behemoth received a late-October capital infusion from Neuberger Berman. Earlier this year, it made a huge M&A splash in February by acquiring AndCo Consulting and Fourth Street Performance Partners, a twofer transaction that added $104 billion in assets under advisement in one fell swoop.
The growth-focused firm has set an ambitious target for itself, aiming to hit 5,000 advisors by 2027.
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
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.
