As reported by ThinkAdvisor, Mariner Wealth Advisors announced its acquisition of Cardinal Investment Advisors, a move that will add $292 billion in assets under advisement to the national RIA firm. The deal, expected to close in the first quarter, will more than double Mariner's total assets under advisement to $550 billion.

As part of the acquisition, 40 employees from Cardinal will join Mariner's institutional planning division, with Cardinal's team becoming the group's primary insurance advisory practice. Mariner CEO and President Marty Bicknell emphasized to ThinkAdvisor that combining Cardinal's expertise with Mariner's resources will help the firm address the evolving challenges faced by institutional clients.

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