Private equity firm Charlesbank, which also owns a stake in Lido Advisors, will be a majority owner of the firm; the capital will be used to invest in Rise Growth's targeted RIAs.
Over a matter of weeks, Mariner was hit with multiple lawsuits from rival advisory firms, including Edelman Financial Engines, Avantax and RWA Wealth Partners, claiming the firm's hyper-aggressive growth tactics step over the line. It may just be...
Kovitz Founder Mitch Kovitz will serve as vice chairman, while The Colony Group CEO Michael Nathanson takes over as president of Focus Financial Partners.