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Mariner adds $878m through double deal
Mega-RIA Mariner Wealth Advisors has revealed its first deals since being recapitalized by Neuberger Berman in October. The Overland Park, Kan.-based firm said Wednesday that it has agreed to add Atlas Financial in Sarasota, Fla., and Newport Advisory in Newport Beach, Calif. The deals bring in a combined $878m in client assets to Mariner’s book and bring the serial RIA acquirer to 126 offices around the country.
Atlas Financial is led by advisor Orion Marx and had been affiliated with Lincoln Financial Advisors (LFA) since 1995. Marx was tapped this year as president of The Resource Group – an internal network of the top financial planners within LFA. His departure for Mariner follows the acquisition of LFA by private equity-backed independent broker-dealer Osaic, a deal which closed in May.
Mariner Adds $878 Million in Assets Under Management, Completes Acquisitions of Atlas Financial and Newport Advisory
Overland Park, Kan. – December 4, 2024 – Mariner, a leading national financial services firm, today announced it has acquired Sarasota, Fla.-based Atlas Financial and Newport Beach, Calif.-based Newport Advisory in a pair of deals that will bring the firm a combined total of approximately $878 million assets under management.
The acquisitions of Atlas Financial and Newport Advisory grow Mariner’s national footprint to 126 offices nationwide and establish the firm’s second offices in both Sarasota and Newport Beach. In deepening its presence in these key markets, Mariner takes another step toward its vision of growing to 5,000 advisors by 2027.
EP Wealth Advisors Adds Two-Person Team with Sports Focus
TORRANCE, Calif.--(BUSINESS WIRE)--EP Wealth Advisors, a leading independent registered investment adviser (“RIA”) with an expanding national presence and client base, has added Joe Palumbo and Adam Fein as Senior Vice Presidents. Palumbo and Fein share a focus on serving the unique needs of professional athletes, coaches, collegiate athletes with Name/Image/Likeness deals and high-net-worth individuals. They’ll become a part of EP’s San Diego region, with strong affiliation to the firm’s Utah-based offices in connection with their client roster.
$23bn EP Wealth adds ex-RBC advisors to boost sports division
Like their two clients chosen in the first round of last week’s National Football League draft, a pair of former RBC Wealth Management advisors have joined a new team.
Joe Palumbo and Adam Fein have left RBC to join $23bn RIA EP Wealth Advisors, the firm announced on Tuesday. The duo were both named senior vice presidents at EP and will continue working with professional athletes and coaches at the firm. EP said in a press release that they’ll join its San Diego region, with a ‘strong affiliation to the firm’s Utah-based offices in connection with their client roster.’
Both Palumbo and Fein were part of RBC’s Illinois-based Heide Wealth Management Group, which Forbes said oversees roughly $973m in client assets. They joined EP last month, but the firm announced the move Tuesday.