Posted February 5, 2024
For its first acquisition of 2024, Overland Park-based Mariner Wealth Advisors announced it will be acquiring two financial service firms in a simultaneous transaction to create a new business vertical, Mariner Institutional.
The transaction includes the acquisition of Winter Park, Fla.-based AndCo Consulting and Covington, Ky.-based Fourth Street Performance Partners. Both firms will bring an additional 100 associates and $104 billion in assets under advisement to Mariner.
Both firms will maintain their respective teams and will serve institutional clients under the Mariner Institutional brand. Together, AndCo and Fourth Street have a team of 100 employees.
Fourth Street was in the process of merging with AndCo prior to Mariner’s transaction to purchase AndCo. Mariner is absorbing both firms as a result. Fourth Street will merge with AndCo when the transaction is finalized.
The agreements were finalized on Jan. 29, 2024, and the transition is expected to reach its completion in early April 2024, according to a release.
“The complementary nature of our clients and services will support our joint growth and offer existing clients and prospects additional services that will help enhance the overall client outcome,” CEO and president of Mariner Wealth Advisors, Marty Bicknell said in the release. “Mariner, AndCo and Fourth Street share an objective and client-first approach, a focus on associate development and unyielding support for our communities. This leads to a strong cultural alignment and great opportunities ahead.”
AndCo’s will lead Mariner Institutional based on its approximate 25 years of operational experience.