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Mariner Acquires Cardinal Investment Advisors, Adds $292 Billion in Assets Under Advisement

News provided by news direct2025-01-09

--News Direct--

Mariner, a leading national financial services firm, today announced the acquisition of Cardinal Investment Advisors in a deal that adds $292 billion in assets under advisement and about 40 employees to its Mariner Institutional practice. This acquisition marks a significant milestone in Mariner’s 2025 strategic national expansion plan, strengthening its ability to meet increasing client demand and will bring its total assets under advisement to approximately $550 billion in the first quarter of 2025.

“This acquisition kickstarts a year that will be filled with growth, innovation, and a relentless pursuit of providing the best client-focused financial services,” said Marty Bicknell, CEO and president of Mariner. “Today marks a defining chapter for Mariner in becoming the premier partner for institutional consulting services. In pairing Cardinal’s expertise with Mariner’s resources, we’re equipped to set a new standard in the industry for tailored, innovative solutions that meet the evolving challenges faced by today’s institutional clients.”

Cardinal Investment Advisors, which has offices in Chicago and St. Louis, has delivered investment consulting services since 2001 and will become the insurance advisory practice within Mariner Institutional. Cardinal’s nationwide client base is focused on insurance companies as well as corporate retirement plans, healthcare systems, foundations and endowments. Cardinal’s customized approach to investment consulting is designed to meet each organization’s unique liability profile. Cardinal has been recognized as one of the best places to work in money management for 10 consecutive years, reflecting its commitment to fostering a positive and productive workplace culture.

“Joining Mariner Institutional will enable the combined team to deepen the impact we have with our clients and expand our reach,” said Marc Tourville, CFA, president of Cardinal Investment Advisors. “This partnership leverages Mariner Institutional’s deep resources and leadership team, allowing our advisors to better serve our clients and bring our expertise to more organizations in need of customized investment strategies. Together, we will address the unique challenges facing institutional investors and deliver the innovative, reliable solutions they need to achieve their goals.”

The acquisition directly addresses the increasing demand for institutional consulting services, driven by market complexities and the need for tailored investment solutions.

“This partnership is about shaping the future of institutional consulting services while staying true to our client-first ethos,” said National Managing Director Mike Welker, who leads Mariner Institutional. “By bringing Cardinal’s experienced capabilities and talented team members into the fold, we’re not only enhancing our service offerings but also strengthening our position as a trusted partner to institutions around the country working to navigate the increasingly complex financial landscape.”

The agreement was signed on Jan. 3, 2025. The Mariner and Cardinal integration will be complete by the end of March, resulting in a broader range of services going forward. Under a “One Mariner” strategy, client-facing advisors will be equipped to focus on client service and empowered to create customized solutions that align perfectly with each client’s needs.

Mariner is a privately held national financial services firm equipped with the experience to meet your modern wealth needs. Our advisors have access to in-house expertise covering everything from tax, estate, trust, and insurance to investment banking and valuation, so they can maximize time spent creating unified wealth plans with clients. By opening more windows of wealth, we can create opportunities to positively impact the lives of many. With this purpose, we intend to raise the bar for the entire industry. Founded in 2006 with $300 million in assets under advisement, Mariner and its affiliates now advise on over $258 billion in assets as of 11/30/24. Learn more at www.mariner.com.