Mariner Wealth Advisors says it is acquiring The Financial Services Network, which includes over 400 independent financial advisors across 20 states.

Founded in 1984, The Network has $26 billion in assets under administration and is led by managing partner and chief risk officer Daxs Stadjuhar, managing partner and chief investment strategist Christopher Mercardo and managing partner and chief investment officer Jeremy Olen.

The Network will be renamed “Mariner Advisor Network” when the deal closes, but some things — like the company’s strategic relationship with LPL Financial — will stay the same, according the company. The Network’s executive leadership team will also stay on board.

“From the day we met the Mariner team, it was clear that we shared the same advisor-centric mission and passion for helping advisors excel as business owners,” Mercado said in a statement.

Mariner Wealth Advisors didn’t say when it expects the deal to close.

This acquisition is viewed as part of “the next phase of strategic growth” for Mariner Wealth Advisors and furthers Mariner Platform Solutions.

“We launched Mariner Platform Solutions in 2020 to free independent advisors from back-office responsibilities and return them to what they do best: providing world-class financial guidance to their clients,” Marty Bicknell, chief executive officer and president of Mariner Wealth Advisors, said in a statement.

So far, that platform has partnered with 33 firms, which together have AUM of $2.6 billion and more than 66 advisors.

The Network acquisition follows several others for Mariner Wealth Advisors in 2022, including Viewpoint Financial Network, Arbor Wealth Management, Emerson Wealth, Taylor Wealth Management Partners and Corbenic Partners.

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