Mariner Wealth Advisors is a fee-based financial advisory firm with more than $22.04 billion in assets under management. There are nearly 15,000 individual clients at the firm -- more than two-thirds of which are non-high-net-worth -- plus a roster of institutional clients.
Ther Overland Park, Kansas-based firm offers a variety of advisory services and managed accounts. The firm itself is not a broker-dealer but it is affiliated with MSEC, LLC, a broker-dealer. Many of the advisors at the firm are also registered with the broker-dealer and may earn commissions for selling securities. This is a potential conflict of interest, explained in full below.
Mariner Wealth Advisors Background
MWA was founded in 2006. It is wholly owned by Mariner Wealth Advisors, LLC. The majority owner of the parent company is the Bicknell Family Holding Company LLC. The elected manager of BFHC is Martin Bicknell, who is also the CEO and president of Mariner Wealth Advisors, LLC.
What Types of Clients Does Mariner Wealth Advisors Accept?
Most of MWA’s clients are individuals. There are more than 10,000 non-high-net-worth clients and more than 4,000 high-net-worth accounts.
Institutional clients at the firm include pooled investment vehicles, pension and profit-sharing plans, charitable organizations, state or municipal government entities, insurance companies and corporations.
Mariner Wealth Advisors Minimum Account Sizes
The minimum account size at MWA depends on the services you use. The minimum investment to use the Institutional Intelligent Portfolios program is $5,000, with a minimum of $50,000 for the tax-loss harvesting feature. The minimum for private equity, alternatives and direct investment funds sponsored my MWA is $100,000.
Services Offered by Mariner Wealth Advisors
A variety of services are available at MWA, including:
- Investment advisory services
- Third party managers
- Managed accounts
- Financial planning
- Estate planning
- Insurance planning
- Education savings
- Tax consulting
- Retirement plan consulting
- Institutional Intelligent Portfolios
Advisors at MWA build portfolios based on a client’s individual objectives, risk tolerances and constraints.
A mix of assets will be used in each portfolio, including:
- Exchange-traded funds (ETFs)
- Exchange-traded notes
- Closed-end funds
- Mutual funds
- Alternative investments
Both passive and active management strategies are used by MWA advisors. Options, equities and fixed income strategies are available.
Fees Under Mariner Wealth Advisors
Fees at MWA also depend on which service or program you use.
Fees for investment advisor services are based on a percentage of assets under management topped off at 2.50%. Fees for financial planning can be billed on a fixed fee basis, as an hourly fee or as a percentage of assets of up to 0.25% annually. The fee structure will depend on the level and scope of the services provided.
Tax compliance and consulting as a stand-alone service is billed either as a fixed fee, an hourly fee or an annual percentage of up to 0.25%.
Advisors may also earn commissions for acting as a broker-dealer. This is a potential conflict of interest, explained in detail below.
What to Watch Out For
Some advisors at the firm also work as registered broker-dealers and earn commissions selling securities to clients. This is a conflict of interest as that advisor may have a financial incentive to sell you something to earn themselves a higher commission even if it is not the right investment for you. When acting as an advisor, all must act in the client’s best interest. Still, know what incentives your advisor may have when they are selling you products.
There are no disclosures on the record for MWA in the past 10 years.
Where Is Mariner Wealth Advisors Located?
The firm’s headquarters are at 5700 W. 112th Street, Suite 500 Overland Park, Kansas 66211. There are additional offices in Arizona, California, Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota,Missouri, Nebraska, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, South Dakota, Texas, Washington and Wisconsin.
Opening an Account With Mariner Wealth Advisors
To open an account with MWA, the best option is to fill out this form on the firm’s website. You can also call the main office line at (913) 904-5700
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