Mariner said Wednesday that it has acquired Cowell Insurance Services, a property and casualty insurance provider, which adds business and individual risk advisory solutions to the wealth manager's service offering.
The P&C provider will operate under the Mariner brand, and terms of the transaction were not disclosed.
"As we continue to grow, our focus is on building a firm that can truly meet clients wherever their needs take them," said Marty Bicknell, Mariner's president and CEO. "Property and casualty is a natural extension of the work we already do — helping those we serve protect what they've worked so hard to build."
According to Mariner, the acquisition "reflects [the] growing demand for advisory relationships that extend beyond investment management, as clients seek centralized guidance that integrates risk, liquidity and long-term planning."
Both firms are based in Overland Park, Kansas, near Kansas City. Founded in 2009 by Lance Cowell, the P&C firm's 18-person team focuses on commercial and personal property and casualty coverage, underwriting strategy, claims advocacy and risk management.
"We wanted a partner who shares those values. Joining Mariner allows us to keep doing what we do best while creating new opportunities and reinforcing support for our clients for years to come," Cowell said in a statement.
Mariner, which is privately held and founded in 2006, has some $300 million in assets under advisement, while Mariner affiliates collectively work on more than $632 billion in assets under advisement as of Dec. 31.
Pictured: Mariner President and CEO Marty Bicknell
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