Mariner Wealth Advisors has completed its first transition of a firm from its independent advisor platform to full integration within Mariner, according to WealthManagement.
Ocean Heights Advisors, a Newport Beach-based registered investment advisor, initially joined Mariner's independent channel in 2022.
Mariner established its independent advisor platform in 2020 through a partnership with Dynasty Financial Partners, initially structuring advisors as 1099 contractors. In 2021, Mariner took full control of the platform, ending its relationship with Dynasty. Since then, the independent channel has expanded to 270 firms representing $34 billion in assets, with further growth expected in 2025.
Mariner has since developed the W-2 model to provide advisors with support in marketing, human resources, compliance, tax planning, trusts and estates, and investment banking.
Bicknell expects only 10 percent to 15 percent of Mariner's independent firms to follow Ocean Heights' path, but he sees this transition as a real-world example of the benefits of full integration.
Mariner and its affiliates now advise on over $560 billion in assets. That figure includes the $292 billion in assets under advisement from Cardinal Investment Advisors, an institutional investment consulting firm Mariner announced it was acquiring in January, according to WealthManagement.
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
