Mariner, a national financial services firm, has announced a strategic transition with Ocean Heights Advisors that exemplifies a forward-thinking approach to wealth management firm succession. The comprehensive integration, set to be completed on April 1, 2025, will see Ocean Heights fully transition from an independent partner to a fully integrated Mariner business unit.
The transition represents more than a typical acquisition, highlighting a nuanced approach to preserving client relationships and professional legacies. Ocean Heights, a Newport Beach-based wealth management firm managing $730 million in assets, has been collaborating with Mariner since 2022, which allowed for a measured and strategic integration process.
Key to this transition is the preservation of Ocean Heights' existing team structure. Founders Kevin O'Grady and Nella Webster will continue in their roles, while current partners Kevin Barlow, Danielle Bronner, and Kara Devar will become Mariner shareholders. Barlow will lead Mariner's expanded Newport Beach operations, ensuring continuity and institutional knowledge transfer.
For the financial services industry, this model presents an innovative solution to a critical challenge: how to ensure business continuity and client service during generational leadership transitions. By providing a clear pathway for independent advisors to integrate while maintaining their professional identity and client relationships, Mariner is addressing a significant pain point for wealth management practices.
The strategic move aligns with Mariner's broader growth trajectory. Since its founding in 2006 with $300 million in assets under advisement, the firm has exponentially expanded to now advising over $560 billion in assets. This Ocean Heights integration represents another calculated step in their expansion strategy.
For clients, the transition promises enhanced service capabilities. The integration provides access to expanded operational resources, comprehensive financial expertise, and increased infrastructure support while maintaining the personalized approach that has defined Ocean Heights' service model.
Marty Bicknell, Mariner's CEO and president, emphasized the strategic significance, noting that this transition signals promising opportunities for independent financial advisory partners and reinforces the company's commitment to delivering exceptional financial services.
