In a move that signals significant growth potential in the wealth management sector, Mariner, a leading national financial services firm, has announced a strategic partnership with Neuberger Berman Capital Solutions (NB Capital Solutions). This collaboration involves a substantial minority growth investment from NB Capital Solutions and funds managed by Neuberger Berman Private Markets (NB), marking a pivotal moment in Mariner's expansion strategy.
The investment comes at a time when Mariner is already experiencing rapid growth, with over $245 billion in combined assets under management and advisement. This new infusion of capital is expected to fuel Mariner's ambitious goal of scaling its national advisor base to 5,000 advisors through both organic growth and strategic acquisitions.
Marty Bicknell, CEO and President of Mariner, emphasized the company's commitment to building the "fiduciary service provider of the future." The partnership with NB Capital Solutions is seen as a catalyst for reaching new heights in client service and business expansion, reinforcing Mariner's vision of creating a holistic financial services firm that positively impacts clients' lives.
The significance of this investment extends beyond Mariner's immediate growth prospects. It reflects a broader trend in the financial services industry, where established firms are seeking strategic partnerships to enhance their competitive edge and expand their service offerings. For clients, this could translate into access to more comprehensive financial planning solutions and potentially improved investment outcomes.
David Lyon, Head of NB Capital Solutions, expressed confidence in Mariner's leadership and differentiated business model, highlighting the company's standard-setting approach to personalized, holistic financial advice. This vote of confidence from a major player like Neuberger Berman underscores the potential for innovation and growth in the wealth management space.
The investment also maintains continuity in Mariner's leadership structure, with Bicknell retaining majority control of the board of directors. This arrangement ensures that Mariner can pursue its growth strategy while maintaining its client-first approach and operational control. The addition of NB to Mariner's roster of institutional capital partners, which includes Leonard Green & Partners (LGP), is expected to provide valuable strategic guidance and support for new initiatives.
For the wealth management industry as a whole, this partnership signals a trend towards consolidation and the increasing importance of scale. As firms like Mariner grow and expand their service offerings, they are better positioned to meet the complex financial needs of high-net-worth individuals and institutions. This could potentially raise the bar for service quality and comprehensive financial planning across the industry.
The investment also highlights the attractiveness of the wealth management sector to private equity and institutional investors. As demographic shifts lead to significant wealth transfers and an increased demand for sophisticated financial advice, firms that can offer comprehensive, technology-enabled services are likely to see continued interest from investors.
As Mariner leverages this new partnership to accelerate its growth, the impact could be far-reaching. Clients may benefit from enhanced services and potentially more innovative financial solutions. The industry may see increased competition and a push towards more holistic wealth management offerings. And for Mariner itself, this investment could be the key to achieving its vision of becoming a dominant force in the national financial services landscape.
In an era of rapid change in the financial services sector, strategic partnerships like the one between Mariner and NB Capital Solutions may well become the blueprint for success, combining deep industry expertise with the capital and resources needed to navigate an increasingly complex financial world.
