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Mariner Wealth Advisors Review

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Mariner Wealth Advisors

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
  • Consulting
  • Estate planning
  • Insurance planning
  • Education savings
  • Tax consulting
  • Retirement plan consulting
  • Institutional Intelligent Portfolios

Investment Philosophy

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: 

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.

Disclosures

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

Tips for Investment

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How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
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Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research