(Financial Advisor IQ) - Mariner Wealth Advisors says it has acquired a New Jersey-based wealth management firm, marking it sixth acquisition since July.
The latest addition is FCG Advisors, a firm founded in 1994 and currently overseeing approximately $2.7 billion in assets under advisement, according to Mariner.
Under the terms of the transaction, FCG Advisors has adopted the Mariner Wealth Advisors name, the company says. John Combias, founder and managing director of FCG Advisors, will continue leading the firm’s Chatham, New Jersey, office, according to Mariner.
The deal, whose financial terms the companies didn’t disclose, closed on September 10.
Mariner has been on an acquisition spree in recent months.
Earlier in September, the company announced that it was acquiring a Cincinnati-based registered investment advisor firm with more than $600 million. In August, Mariner said it was buying a $500 million wealth management practice based in Pittsburgh, and earlier this summer, it said it would acquire a Los Angeles-based firm with $5.1 billion in client assets and a Florida-based firm overseeing close to $1 billion.
Founded in 2006 with $300 million in assets under advisement, Mariner now has 403 advisors across 54 offices who managed close to $46 billion as of the end of June, the company says.
By Alex Padalka
September 24, 2021
