Coming off its acquisition last week of Cardinal Investment Advisors, an institutional consulting firm with $292 billion in assets under advisement, Mariner has acquired three firms with a combined $1 billion in AUA.
All three companies will take on the Mariner name, but their current offices and teams will remain intact.
Mariner has added Cassady Schiller Wealth, an eight-person team in Cincinnati led by partners James McGrath and Mike Clark. The firm works with high-net-worth and ultra-high-net-worth business owners, medical professionals and closely held family businesses.
“Over the past 10 years, we have experienced tremendous growth. To take the firm to the next level for our clients and employees, we realized we needed to align with a like-minded partner, and Mariner stands out as the perfect match,” Clark said in a statement.
Jenkins Wealth, an Englewood, Colo.-based firm, has also joined Mariner. The firm, which has a biblical foundation, was founded in 2002 by CEO Brad Jenkins. It serves both individual and institutional investors.
“Joining Mariner will enable us to expand our offerings and continue to serve our clients with the same dedication and transparency that have always defined our approach, and I couldn’t be more thrilled about the opportunities ahead for our clients and our team,” Jenkins said in a statement.
Mariner has also added Marlborough, Mass.-based Triton Financial Group. Triton was founded in 1995 by President Bob Gustafson.
Cassady Schiller used Houlihan Lokey to advise on the deal, while Jenkins used Dynasty Investment Bank and Triton used Pederson & Co.
This follows news last week that Mariner struck a deal to add $292 billion in assets under advisement and about 40 employees to its institutional practice with the acquisition of Cardinal Investment Advisors, an institutional investment consulting firm with offices in Chicago and St. Louis.
The deal expands upon Mariner Institutional, a new division the company seeded last year when it acquired AndCo Consulting in Orlando and Fourth Street Performance Partners in a Kentucky suburb of Cincinnati in a double deal.
With the three additions, Mariner’s total AUA sits at $551 billion. Once the deals close, it will have 127 locations across the country.
