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Mariner Wealth Advisors Acquires The Financial Services Network

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Mariner Wealth Advisors, based in Overland Park, Kan., announced the acquisition of The Financial Services Network, an OSJ, RIA and provider of back office support based in Sacramento, Calif., that provides administrative, consulting, compliance and operational services to more than 400 independent financial advisors.

This latest acquisition will expand the reach of Mariner Platform Solutions, an affiliate of Mariner Wealth Advisors that offers a suite of resources to independent financial advisors who seek to scale their businesses and concentrate on serving clients without back-office distractions. 

The Network will rebrand as Mariner Advisor Network and focus on bolstering the firm’s core offerings of technology, portfolio consulting, compliance and operations, virtual administration services, and mergers and acquisitions support for independent advisors. The organization will also continue its strategic relationship with LPL Financial, one of the nation’s leading RIA custodians and its largest independent broker/dealer.

Today is a win for advisors who seek to spend more time advising their clients and growing their business and less time managing the day-to-day operations,” said Marty Bicknell, CEO and president of Mariner Wealth Advisors. “The depth of experience among the professionals at The Network and the reach and expertise of LPL Financial will enable us to serve more advisors and enhance their access to some of the industry’s best back-office and consulting resources.” 

The Network was founded in 1984 and has evolved over the years as an office of supervisory justice, an RIA firm and a provider of support services for independent financial advisors. Led by managing partners Daxs Stadjuhar, Christopher Mercado, and Jeremy Olen, The Network currently has more than 400 advisors in 20 states with $26 billion in assets under advisement. (The Network’s RIA, which includes a portfolio consulting business, has $6 billion under management, with the remaining $20 billion under advisement through independent advisers.) The executive leadership team will remain in place and has been asked to lead the combined business offering, integrating resources and strategically expanding capabilities. 

“The complementary nature of our expertise, solutions and advisor-centric philosophy will accelerate the expansion of our network, broaden the scope of how we work with advisors, and help advisors overcome the traditional impediments to growth,” said Mercado. “We’re thrilled to join the Mariner family and look forward to leading and growing the Mariner Advisor Network together.”

Since its inception in 2020, Mariner Platform Solutions has partnered with 33 firms with a total of $2.6 billion in assets under management and has over 66 advisors and 22 brands leveraging its resources. This acquisition will add more than 400 advisors and more than 50 associates who make up a specialized group of transition, investment, compliance and administrative support professionals dedicated to serving the needs of independent financial advisors. 

Founded in 2006 with $300 million in assets under advisement, Mariner Wealth Advisors and its affiliates now advise on more than $60 billion in assets. It is among the fastest growing RIAs in the nation, announcing seven acquisitions in the first half of 2022.