Mariner Wealth Advisors is one of the largest RIAs in the US, with $28 billion in assets under advisement as at the end of 2019.

Dynasty Financial Partners has partnered with Kansas-based Mariner Wealth Advisors to launch a new business venture designed to use Dynasty’s services across a variety of fronts. 

Based in Overland Park, Mariner Wealth Advisors has more than $28 billion in client assets.

Additionally, Marty Bicknell, Mariner’s chief executive, and 1248 Holdings have invested in Dynasty through their partnership, BFFV20 LLC. They join Envestnet and Dynasty’s legacy investors as part of the most recent capital investment round conducted by Dynasty. 

Mariner Platform Solutions will leverage Dynasty’s wealth management services, people, business analytics, leading technology, client and prospect assistance. The new platform will use Dynasty’s integrated Core Services platform for independent advisors and the firm’s turnkey asset management platform. 

“We see a tremendous opportunity in the market in providing advisors with the capabilities of two of the most successful firms in wealth management,” Bicknell said. 

Mariner was founded in 2006 with $300 million in assets under advisement.

The partnership is the kind of combination that continues to take shape in the North American wealth management industry. A few days ago, ECHELON Partners, the investment bank and advisory firm, noted that industry M&A slipped in the first quarter of this year but underlying drivers remain powerful.