Mariner Wealth Advisors has further accelerated its expansion with the acquisition of The Financial Services Network.
Financial terms of the deal were not disclosed.
The acquired entity is a national enterprise office that offers a spectrum of administrative, consulting, compliance and operational services.
The firm, founded in 1984, currently has a client base of over 400 independent financial advisors across 20 US states and manages $26bn in assets.
The acquisition is expected to bolster the reach of Mariner Platform Solutions, an affiliate of Mariner Wealth Advisors which provides back-office operational functions, technical planning strategies, and other solutions to independent financial advisors.
The Network will be rebranded as Mariner Advisor Network following the close of the transaction.
The firm’s executive leadership team, consisting of Daxs Stadjuhar, Christopher Mercado, and Jeremy Olen, will oversee the combined business offering. They will be also responsible for the integration of resources and strategically expanding capabilities of the combined entity.
The Network will also continue its strategic partnership with LPL Financial to offer its advisors further access to the resources and capabilities of the broker-dealer.
Mercado said: “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.”
Mariner Wealth Advisors CEO and president Marty Bicknell added: “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.
“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 latest deal follows Mariner’s acquisition of Pennsylvania-based Corbenic Partners, and Michigan-based Emerson Wealth earlier this year.