Mariner Wealth Advisors and AdvicePeriod are partnering to become a dominating fiduciary advice company of the future.
FREMONT, CA: Mariner Wealth Advisors and AdvicePeriod, two of the country's largest independent advising businesses, are collaborating to become a dominating fiduciary advice company of the future in a deal that coincides with a private equity investment from the firm Leonard Green & Partners (LGP).
On June 30, Mariner Wealth Advisors, headquartered in Overland Park, Kansas, agreed to purchase AdvicePeriod, situated in Los Angeles, California. Lockshin and the other AdvicePeriod shareholders will trade their shares for interests in the combined business. In the independent RIA sector, the merger brings together two forward-thinking, client-centric fiduciary firms.
"Steve and I have collaborated frequently over the years and together we expect to create the integrated financial services firm of the future," said Bicknell. "Our two companies each have a unique value proposition and when combined, we will strive to deliver exceptional value to our clients across the board."
Advice Period's brand will be retained, while Lockshin, Jonathan Straub, and Marc Russell will continue to serve as the company's principals. Clients, advisors, and team members of AdvicePeriod must anticipate only positive changes in the months and years ahead, with advancements in technology and the variety of accessible financial expertise and services.
"This is the ideal opportunity to paint on a bigger canvas and with more resources," said Lockshin. "The united firm will continue to transform the industry by delivering solutions, transparency and technology that raise the bar for our clients and our peers."
In addition to expanding its abilities, the acquisition of AdvicePeriod gives independent advisers more options when it comes to partnering with a wealth advising firm to help manage their businesses. Mariner Wealth Advisers' Mariner Platform Solutions allow advisors to work with the company on a 1099 model, preserving their brand and business while receiving backend support from a trusted partner. Also, AdvicePeriod for Advisers supports this feature by employing advisors as W2 workers under the AdvicePeriod brand while allowing them to synthetically own and operate their firm under a well-known brand. Mariner Wealth Advisers now offers two options for advisors who wish to own and manage their own business.
