Mariner Bolsters Institutional Services with Cardinal Acquisition

Mariner, a leading national financial services firm, has announced a significant acquisition that will bolster its institutional services and meet increasing client demand. The acquisition of Cardinal Investment Advisors, a consulting firm overseeing $292 billion in assets under advisement, positions Mariner to more than double its assets under advisement, with an estimated total of approximately $550 billion following the integration later this quarter.

"This acquisition marks a transformative year of growth, innovation, and a steadfast focus on delivering superior client-centered financial services," said Marty Bicknell, CEO and president of Mariner. The acquisition of Cardinal Investment Advisors exemplifies Mariner's strategic pursuit of partnerships that share its dedication to delivering tailored, innovative solutions that enhance service for clients.

Cardinal Investment Advisors, based in Chicago and St. Louis, specializes in investment consulting for insurance companies, corporate retirement plans, healthcare systems, and endowments and foundations. Following the acquisition, Cardinal will be integrated into Mariner Institutional as its insurance advisory division. The firm's customized approach to investment consulting, designed to meet each organization's unique liability profile, will enable Mariner to provide more tailored solutions to its institutional clients.

The acquisition brings 40 Cardinal employees into Mariner's fold, strengthening the firm's expertise and resources. Both companies highlight the potential for the partnership to extend their reach and provide more customized institutional advice. Marc Tourville, CFA, president of Cardinal Investment Advisors, stated, "This partnership leverages Mariner Institutional's deep resources and leadership team, allowing our advisors to better serve our clients and bring our expertise to more organizations in need of customized investment strategies."

Mike Welker, national managing director of Mariner Institutional, emphasized the strategic importance of the acquisition: "This partnership is about shaping the future of institutional consulting services while staying true to our client-first ethos. By bringing Cardinal's experienced capabilities and talented team members into the fold, we're not only enhancing our service offerings but also strengthening our position as a trusted partner to institutions around the country working to navigate the increasingly complex financial landscape."

The acquisition directly addresses the increasing demand for institutional consulting services, driven by market complexities and the need for tailored investment solutions. As Mariner continues to grow and expand its institutional services, this acquisition serves as a blueprint for future endeavors, aligning with the firm's strategic growth objectives and long-term vision.

In conclusion, Mariner's acquisition of Cardinal Investment Advisors is a strategic move that will significantly enhance the firm's institutional services, strengthen its expertise and resources, and position it as a trusted partner to institutions around the country. This acquisition aligns with Mariner's long-term vision of becoming the premier partner for institutional consulting services, and sets the stage for continued growth and innovation in the financial services industry.