Mariner Wealth Advisors says it's buying two firms with $104 billion in total assets under advisement and 100 professionals who serve institutional clients: AndCo Consulting of Winter Park, Florida, and Fourth Street Performance Partners of Covington, Kentucky.
As a result of these acquisitions, Mariner — which says its advisors currently work with $122 billion in AUA — will nearly double its asset level and is set to form a new division focused on institutional investors.
"The complementary nature of our clients and services will support our joint growth and offer existing clients and prospects additional services that will help enhance the overall client outcome," said Mariner CEO and President Marty Bicknell, in a statement.
"Mariner, AndCo and Fourth Street share an objective and client-first approach, a focus on associate development and unyielding support for our communities. This leads to a strong cultural alignment and great opportunities ahead," Bicknell explained.
