OVERLAND PARK, Kan., June 11, 2019 (GLOBE NEWSWIRE) -- Mariner Wealth Advisors, the wealth advisory firm nationally ranked by Barron’s as a top three RIA Firm in 2018, 2017 and 20161, today announced it has entered into a binding agreement to make its seventh acquisition of the year, and the second in the Houston area.
SMS Capital Management, Inc. (SMS) was established in 2004 and is located in the Houston metropolitan area. The firm has more than $110 million assets under management as of their most recent ADV filing. SMS is led by its founder and principal Steven M. Sheldon.
“We are incredibly excited to have made a second acquisition in the Houston area,” said Marty Bicknell, CEO and president of Mariner Wealth Advisors. “Steven and his associate are the perfect complement to the team we already have in Houston. This was a natural fit, given we share the same philosophy of putting clients first by providing comprehensive wealth management to help them reach their unique goals.”
This is Mariner Wealth Advisors’ second foray into the Houston market. At the end of 2018, they announced the acquisition of Patriot Wealth Management. That deal closed on Jan. 1, 2019.
According to Sheldon, “Mariner Wealth Advisors and SMS were founded with similar principles. I’m confident this partnership will provide us with more resources and time to concentrate on helping our clients reach their goals today and in the future.”
In 2018, Marty Bicknell announced the firm’s national expansion plans, with a goal of acquiring several leading firms each year and green-fielding new office locations in targeted markets. As a result, the firm has acquired:
- Patriot Wealth Management (Houston, Texas, joined Jan. 1, 2019)
- Martin Financial Group (New Albany, Ind., joined Feb. 1, 2019)
- RTB Consulting, LLC (Cincinnati, Ohio, joined Feb. 11, 2019)
- Foundations Wealth Management (Sioux Falls, S.D., joined March 11, 2019)
- Authent Advisors (Corte Madera, Calif., joined April 1, 2019)
- Singer Xenos Schechter Sosler (Coral Gables, Fla., joined May 31, 2019)
Bicknell says they could complete up to five more acquisitions by the end of the year.
About Mariner Wealth Advisors
Mariner Wealth Advisors is a national wealth advisory firm that provides wealth advice focused on meeting client needs. Founded in 2006 with approximately $300 million in assets under management, Mariner Wealth Advisors has grown to more than $22 billion as of Jan. 31, 2019. The firm’s mission is to help clients and their families navigate their financial future, charting a course to achieve their goals today, tomorrow and for years to come.
About SMS Capital Management, Inc.
SMS Capital Management was founded more than 15 years ago with the purpose of helping successful individuals and families achieve their financial goals so they can enjoy their lives today, while aiming for a prosperous future. SMS has a large concentration of clients in Houston, Dallas and Austin.
1Barron’s awarded the 2018 #3 Top 40 RIA Firms to Mariner, LLC d/b/a Mariner Wealth Advisors based on data compiled for Mariner Wealth Advisors and the 2017 #2 and 2016 #1 rankings in the Top 20 Independent Advisory Firms to Mariner Holdings based upon data compiled for Mariner Holdings’ registered investment adviser subsidiaries. Barron’s publishes these lists based upon a number of criteria and the firms’ filings with the SEC were used to cross-check the data provided to Barron’s. The listing includes the firms’ numbers of clients, employees, advisors, offices and state locations. The award is not indicative of future performance and there is no guarantee of future investment success. Registration of an investment advisor does not imply a certain level of training or skill.
Heather Valle
hvalle@hotpaperlantern.com
212 931 6184