Mariner, a leading national financial services firm, announced the acquisition of Cardinal Investment Advisors in a deal that adds $292 billion in assets under advisement and about 40 employees to its Mariner Institutional practice. This deal marks a significant milestone in Mariner’s 2025 strategic national expansion plan, strengthening its ability to meet increasing client demand and will bring its total assets under advisement to approximately $550 billion in the first quarter of 2025.
Cardinal Investment Advisors, which has offices in Chicago and St. Louis, has offered investment consulting services since 2001 and will become the insurance advisory practice within Mariner Institutional. Cardinal’s nationwide client base is focused on insurance companies, corporate retirement plans, healthcare systems, foundations, and endowments. Cardinal’s personalized approach to investment consulting is designed to meet each organization’s unique liability profile.
The Mariner and Cardinal integration is expected to be complete by the end of March, resulting in a broader range of services going forward. And client-facing advisors will be equipped to focus on client service and empowered to create customized solutions that align perfectly with each client’s needs under a One Mariner strategy.
KEY QUOTES:
“This acquisition kickstarts a year that will be filled with growth, innovation, and a relentless pursuit of providing the best client-focused financial services. Today marks a defining chapter for Mariner in becoming the premier partner for institutional consulting services. In pairing Cardinal’s expertise with Mariner’s resources, we’re equipped to set a new standard in the industry for tailored, innovative solutions that meet the evolving challenges faced by today’s institutional clients.”
– Marty Bicknell, CEO and president of Mariner
“Joining Mariner Institutional will enable the combined team to deepen the impact we have with our clients and expand our reach. 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. Together, we will address the unique challenges facing institutional investors and deliver the innovative, reliable solutions they need to achieve their goals.”
– Marc Tourville, CFA, president of Cardinal Investment Advisors
“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.”
– National Managing Director Mike Welker, who leads Mariner Institutional
