US RIA Mariner has acquired compatriot Cardinal Investment Advisors, an independent institutional investment consulting firm with offices in Chicago and St. Louis.
Cardinal will integrate into Mariner Institutional as the insurance advisory practice.
Go deeper with GlobalData
Through the deal, Mariner will add $292bn in assets under advisement (AUA) along with nearly 40 employees to its institutional practice.
This will increase the company’s total AUA to roughly $550bn upon completion of its integration with Cardinal by the end of March.
Mariner Institutional national managing director Mike Welker said: “This partnership is about shaping the future of institutional consulting services while staying true to our client-first ethos.
“By bringing Cardinal’s experienced capabilities and talented team members into the fold, we’re not only enhancing our service offerings but also strengthening our position as a trusted partner to institutions around the country working to navigate the increasingly complex financial landscape.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataEstablished in 2001, Cardinal offers investment consulting services to meet the needs of a diverse client base, including insurance companies and corporate retirement plans.
Its acquisition is part of the “One Mariner” strategy, aimed at creating tailored client solutions.
Mariner further said that the deal is in response to growing demand for institutional consulting services in the backdrop of increasing market complexities.
Cardinal president Marc Tourville said: “This partnership leverages Mariner Institutional’s deep resources and leadership team, allowing our advisors to better serve our clients and bring our expertise to more organisations in need of customised investment strategies.
“Together, we will address the unique challenges facing institutional investors and deliver the innovative, reliable solutions they need to achieve their goals.”
Last month, Mariner acquired Atlas Financial and Newport Advisory, adding $878M in assets and growing its office count to 126.
