Mariner Wealth Acquires $1.3 Billion Practice in Florida
Mariner Wealth Advisors shows no signs of putting the brakes on its recent acquisitions spree, most recently signing a binding agreement to acquire a Florida-based practice with more than a billion dollars in assets under management, the company says.
Coral Gables, Fla.-based Singer Xenos Schechter Sosler, led by partners Marc Singer, Faith Xenos, Neil Sosler and Jay Schechter, has 16 associates in total and oversees over $1.3 billion, according to a press release from Mariner. All four partners are joining Mariner, the company says. The firms didn’t disclose the terms of the deal.
“Today’s world is an exciting and unpredictable place, and in a period of constant change, our firm’s security, stability and qualifications set us apart,” Xenos, founding partner, CIO and COO of Singer Xenos, says in the press release. “Partnering with Mariner Wealth Advisors helps ensure our clients will continue to have that security for years to come.”
Marty Bicknell, CEO and president of Mariner, announced plans last year to expand the firm’s national footprint, and Singer Xenos is its sixth acquisition so far in 2019, according to the press release. Mariner’s other acquisitions this year include Authent Advisors in California, Foundations Wealth Management in South Dakota, RTB Consulting in Ohio, Martin Financial Group in Indiana and Patriot Wealth Management in Texas, Mariner says.
Mariner Wealth was founded in 2006 with $300 million and has grown that to $22 billion as of the end of January, according to this week’s press release. A February press release from the firm, however, had put that figure at $24 billion.