Mariner Wealth Advisors, the Leawood, Kan.-based independent advisory firm, has acquired a 51% interest in Adams Hall Asset Management, the company announced.
As part of the arrangement, which closed on Jan. 30, Adams Hall will retain its name and gradually integrate its compliance and human resources operations and systems into Mariner’s over time. Adams Hall, an RIA firm based in Tulsa, Okla., has about $1.3 billion in AUM and might also integrate its portfolio performance reporting and billing with Mariner’s, too, Jana Shoulders, founder and CEO of Adams Hall Asset Management said in an interview.
“Mariner gains a team of experienced, talented individuals who focus on meeting their clients’ needs first and foremost,” Martin Bricknell, CEO of Mariner Wealth Advisors said in a statement. “The relationship with Adams Hall will also enhance Mariner’s ability to serve clients in geographically diverse areas.”
The deal helps solidify Mariner Wealth Advisors’ position as a growing national wealth management group. Last year, Mariner Wealth Advisors snapped up CBIZ Wealth Management, from its parent CBIZ. For Mariner, the CBIZ deal scored 24 individual wealth management consultants located in six cities across the country.
“We are philosophically aligned,” Shoulders said. “Our top priority is of putting clients first and doing what is right for the clients.”
Donna Mitchell writes for Financial Planning.