Mariner Adds $878M in AUM With Two Acquisitions

News December 05, 2024 at 12:27 PM

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Mariner has acquired Atlas Financial, based in Sarasota, Florida, and Newport Advisory, based in Newport Beach, California, in a pair of deals that will bring the firm about $878 million combined in assets under management.

The acquisitions of Atlas Financial and Newport Advisory grow Mariner’s national footprint to 126 offices and add second offices in both Sarasota and Newport Beach, a move the Overland Park, Kansas firm described as a step toward growing to 5,000 advisors by 2027.

“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,” President and CEO Marty Bicknell said.

Atlas Financial excels in asset management, business continuity and wealth transfer strategies, offering tailored services such as retirement, estate, education and business succession planning, Mariner said.

Serving business owners and retirees, both current and future, the Atlas team focuses on addressing its clients' most critical priorities, relationships and goals.

Newport Advisory’s 12-person team takes a holistic approach to financial planning, incorporating every aspect of a client’s financial life to create strategies that align with their goals and values, Mariner said.

Following the Dec. 2 closing, both firms adopted the Mariner name and continue to operate with their existing teams in place. Atlas marks Mariner’s eighth office in Florida, while Newport Advisory becomes the firm’s 19th location in California.

Mariner and its affiliates advised on over $245 billion in assets on June 30. Mariner had 733 traditional and 1,095 independent advisors — 1,828 total — on Sept. 30.

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