Coming off its acquisition final week of Cardinal Funding Advisors, an institutional consulting agency with $292 billion in belongings beneath advisement, Mariner has acquired three corporations with a mixed $1 billion in AUA.
All three firms will tackle the Mariner title, however their present places of work and groups will stay intact.
Mariner has added Cassady Schiller Wealth, an eight-person crew in Cincinnati led by companions James McGrath and Mike Clark. The agency works with high-net-worth and ultra-high-net-worth enterprise homeowners, medical professionals and intently held household companies.
“Over the previous 10 years, we’ve skilled great progress. To take the agency to the following degree for our shoppers and workers, we realized we wanted to align with a like-minded associate, and Mariner stands out as the right match,” Clark stated in an announcement.
Jenkins Wealth, an Englewood, Colo.-based agency, has additionally joined Mariner. The agency, which has a biblical basis, was based in 2002 by CEO Brad Jenkins. It serves each particular person and institutional traders.
“Becoming a member of Mariner will allow us to increase our choices and proceed to serve our shoppers with the identical dedication and transparency which have at all times outlined our method, and I couldn’t be extra thrilled concerning the alternatives forward for our shoppers and our crew,” Jenkins stated in an announcement.
Mariner has additionally added Marlborough, Mass.-based Triton Monetary Group. Triton was based in 1995 by President Bob Gustafson.
Cassady Schiller used Houlihan Lokey to advise on the deal, whereas Jenkins used Dynasty Funding Financial institution and Triton used Pederson & Co.
This follows information final week that Mariner struck a deal so as to add $292 billion in belongings beneath advisement and about 40 workers to its institutional follow with the acquisition of Cardinal Funding Advisors, an institutional funding consulting agency with places of work in Chicago and St. Louis.
The deal expands upon Mariner Institutional, a brand new division the corporate seeded final 12 months when it acquired AndCo Consulting in Orlando and Fourth Avenue Efficiency Companions in a Kentucky suburb of Cincinnati in a double deal.
With the three additions, Mariner’s complete AUA sits at $551 billion. As soon as the offers shut, it should have 127 places throughout the nation.