Mariner Wealth Advisors, a national wealth advisory firm, today announced it will be acquiring Winter Park, Fla.-based AndCo Consulting and Covington, Ky.-based Fourth Street Performance Partners in a simultaneous transaction. The acquisitions significantly bolster Mariners institutional presence, adding 100 associates and bringing the firm an additional $104 billion in assets under advisement. Based on its approximately 25 years of operational experience, the AndCo team will drive the new business vertical, Mariner Institutional.
Recognizing the evolving landscape of retirement-to-wealth solutions, Mariners strategic addition of these two firms supports the firm in offering a comprehensive suite of complementary services, catering to both institutional and individual clients. The expansion enhances Mariners capabilities and growth potential, solidifying its commitment to a client-first approach.
The complementary nature of our clients and services will support our joint growth and offer existing clients and prospects additional services that will help enhance the overall client outcome, said Marty Bicknell, CEO and president of Mariner Wealth Advisors. Mariner, AndCo and Fourth Street share an objective and client-first approach, a focus on associate development and unyielding support for our communities. This leads to a strong cultural alignment and great opportunities ahead.
Fourth Street will merge with AndCo upon closing of the transaction, each maintaining their existing teams and focus on serving institutional clients under the Mariner Institutional brand. Joining Mariner allows them to augment services through enhanced infrastructure and financial resources.
Since the inception of the firm, we have consistently approached business decisions through a simple three-pronged question: how will this impact our clients, our colleagues and our community? said AndCo CEO Mike Welker. We truly believe we have found a partner in Mariner that shares the same philosophy, and Im confident this opportunity will enhance the services we deliver to our existing clients, provide opportunities for our team members and give us capacity to give back to our local communities at scale.
The agreements were finalized on Jan. 29, 2024, and the transition is expected to reach its completion in early April 2024. Berkshire Global Advisors served as financial advisor to AndCo Consulting in this transaction. AndCo and Fourth Street will retain their 100 professionals and continue serving clients out of their locations in Covington, Winter Park, Chicago, Dallas, Detroit, Pittsburgh, Cleveland and Reno, Nev.
At Mariner Wealth Advisors, we provide 360 advice designed to last. We focus on one thingpartnering with clients to create a financial strategy for today and beyond thats flexible enough to change along with them. The ultimate goal? Helping clients identify what is important so they can achieve their goalswere committed to being here for everything life brings their way. Weve built our firm around what our clients need. We began by offering wealth planning resources and then added services from tax planning to insuranceall under one roof. We believe this integrated approach to wealth management helps simplify our clients lives. Founded in 2006 with $300 million in assets under advisement, Mariner and its affiliates now advise on over $122 billion in assets as of 12/31/23. To learn more, visit marinerwealthadvisors.com.