Mariner, the national RIA firm, has announced two acquisitions that add some $1.8 billion in combined assets under advisement to the platform.
The firms being acquired are First National Advisors, an RIA based in Rockland, Massachusetts, and Strava Wealth, an RIA based in Pittsburgh.
The expansion brings two established advisory teams into Mariner, according to the announcement, allowing both firms to maintain their local presence while benefiting from greater scale and support across wealth management, tax, estate, trust, insurance and specialized planning.
Marty Bicknell, president and CEO of Mariner, said in a statement that both firms fit Mariner’s culture and growth-focused vision.
"Mariner is built around advisors who are deeply committed to their clients," Bicknell said. "As clients' financial lives become more complex, advisors who join us are surrounded by the support they need to keep growing, expand their capabilities and stay focused on clients."
First National Advisors adds eight associates, including five advisors, one of whom operates in the institutional space. It brings the bulk of new assets — about $1.5 billion in AUA — to Mariner. Michael Hebert, partner and investment advisor at First National, said the firm chose Mariner to access the scale and capabilities it needs to better serve medical and dental professional clients while preserving its hands-on approach.
Strava Wealth adds a five-person team, including three advisors, and about $360 million in AUA.
"We've always taken a long-term, disciplined approach to both investing and firm building," said Adam Wright, co-owner and chief investment officer of Strava Wealth. "This was a carefully considered decision rooted in what's best for our clients and team. Becoming part of Mariner gives us greater scale and support while building on the strengths and standards our clients expect."
These acquisitions establish Mariner's third office in Pittsburgh and fourth in the greater Boston area, according to the announcement.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.