Mariner Wealth Advisors has seen its first transition from its independent platform of councilors to a full marker firm, a CEO Move and President Marty Bicknell sees it as marker's success skills.
Ocean Heights Advisors, a Newport Beach, registered registered counsel -basedJoined the Independent Channel of Mega-Ria Mariner in 2022. In April, $ 730 million Ocean Heights will move to a full marker firm, giving up independence to gain closer access to the Mariner's scale and resources.
“The idea (of Mariner Independent) has always been about the concept of firms that may not be fully ready to sell the business to get an opportunity to exploit the resources and systems we have built, and eventually, there may be an opportunity to move to the other,” Bicknell said.
The Ocean Heights team, including founders Kevin O'Grady and Nella Webster, will be part of the mass. Ocean Heights Kevin Barlow's partners, Danielle Bronner and Kara Devar will become shareholders in Mariner, and Barlow will lead the Newport Beach bar.
Sailor Set up its independent councilor channel In 2020 through a partnership with the Financial Dynasty Partners, in which the councilors were 1099 contractors. In 2021, Mariner took on independent composition and ended the relationship with the dynasty.
Bicknell said the independent channel has grown since the 270 firms representing $ 34 billion, with more supplements in 2025.
When he developed the program, Mariner thought that the behavior of the independents from the channel would be an opportunity, but he was not sure of what extent, Bicknell said. The essential reason for starting the W-2 business side was to use marketing marketing rates, human resources and compliance sharing, as well as services such as tax planning, beliefs and property, and banking of businesses held closely.
“All these things exist to raise the proposal of the advisor's value,” Bicknell said. “Allowing the bid to be available to independent advisers creates a stream of income that returns cost centers into profit centers and allows us to have an opportunity to reinvestly reinvolve them and increase them even more.”
Through the channel, the marker helps advisers with investment portfolios and provides billing, compliance, technology, marketing support and insurance.
consultation Cerulli Associates recently predicted that the independent RIA channel will continue to have the strongest increase in account between the counseling channels. But competition in space is also growing, with national broker/traders competing for talent and expanding their services.
During his time on the Mariner network, Ocean Heights expanded her client's services and almost doubled her assets under consultation.
“After three years working successfully together, fully integration with the marker is a natural evolution and will allow our team to provide even greater value to our clients, while devoting more time to the personal relationships that have always been our sign,” said Barlow's managing partner of Ocean Heights, in a statement.
Bicknell predicts that these types of movements will be in the minority, or about 10% to 15% of its independent channel firms. But he and the team will continue to make the case for the transition, now using Ocean Heights as an example of the real world.
To provide truly “holistic” financial services, “talent must be internal,” Bicknell said. “The priorities must be the same, so you are not drawing in many directions. The culture should be the same, so you are giving as a team together. … the ability and desire to re-invest for growth is also important. Mariner's appetite for this is significantly different than a typical rhia, especially the Plus category or minus $ 1 billion. “
Mariner and his associates advise over $ 560 billion in wealth, including those of cardinal investment advisersThe Institutional Investment Advisory Firm with $ 292 billion in AUA that Mariner announced it was earning in January. This deal is expected to close at the end of March.