Mariner Wealth Advisors is set to accelerate RIA acquisitions after selling a minority stake to private equity firm Leonard Green & Partners. The Overland Park, Kansas-based wealth management firm aims to leverage the capital infusion to pursue up to a dozen deals in 2021, following a year-long pause from M&A activity. CEO Marty Bicknell says the partnership allows Mariner to maintain a steady pace of acquisitions without pausing to rebuild capital, while continuing to expand its RIA consolidator platform that serves 350 advisors managing $40 billion in assets.
The move mirrors recent PE minority investments by Captrust, Beacon Pointe Advisors, and Creative Planning, providing strategic expertise and partial liquidity for concentrated shareholder groups. With Mariner actively evaluating more than a dozen deals, the firm targets acquisitions ranging from $300 million to $2 billion in assets under management, aiming for growth, talent acquisition, and platform expansion rather than acquiring AUM for AUM’s sake…