FUNDRAISING NEWS | January 10, 2025
Mariner Wealth Advisors has started the new year with a transformational deal to acquire Cardinal Investment Advisors in a move that adds significant institutional investment consulting firepower and $292B in assets under advisement.
Cardinal and its 40 employees will become the insurance advisory practice within Mariner Institutional, with their addition “marking a significant milestone in Mariner’s 2025 strategic national expansion plan,” the company said in a press release announcing the deal. Based out of offices in Chicago and St. Louis, Cardinal has provided investment consulting services since 2001 and supports a nationwide client base focused on insurance companies, corporate retirement plans, healthcare systems, and foundations and endowments.
“The acquisition directly addresses the increasing demand for institutional consulting services, driven by market complexities and the need for tailored investment solutions,” Mariner said. The agreement was signed on January 3 and is set to be finalized by the end of March, raising Mariner’s total AUA to approximately $550B.
Cardinal is the third acquisition by Mariner since it received a minority growth investment from Neuberger Bergman Capital Solutions in October 2024, as previously reported by Dakota. NB Capital joined Leonard Green & Partners in backing Mariner, with majority control of the firm’s board remaining with President and CEO Marty Bricknell.
