Mariner Looks to Complete Exit From Remaining Institutional Asset Managers

World News: . []

OVERLAND PARK, Kan., Oct. 12, 2018 (GLOBE NEWSWIRE) -- Mariner Wealth Advisors, a national wealth advisory firm, announced today that its affiliated investment management arm, Montage Investments, will soon complete its exit from the firm’s remaining institutional asset managers that manage registered funds, such as mutual funds and closed-end funds, and other products.

Majority-owned subsidiaries Nuance Investments, LLC, and Palmer Square Capital Management LLC are in the process of completing management buyouts. Montage completed the sale of its majority stake in Convergence Investment Partners to Nile Capital. Ardea Partners LLC and Evercore served as exclusive financial advisors to Mariner and Montage on each transaction.

Mariner Wealth Advisors, a nationally recognized wealth advisory firm that was ranked in the top three on the Barron’s list of Top RIA Firms in the country in 2018, 2017 and 2016, will continue to focus on wealth management services, as part of an aggressive five-year growth plan.

“At Mariner Wealth Advisors we have a desire to focus on what we do best,” said Marty Bicknell, chief executive officer and president of Mariner Wealth Advisors. Added Bicknell, “The business has continually evolved to meet client needs, but now we are returning our efforts to where our passion lies and where we envision the opportunity to be today: running a national wealth advisory firm focused on wealth management at the core.”

Montage’s planned exit from the institutional asset management business gained momentum in 2017 when the firm began the process to sell its stake in Tortoise Investments.

Mariner Wealth Advisors was founded with a mission of serving as an advocate to help individuals and families achieve their long-term financial goals. The firm will continue its commitment to delivering fully customized and holistic wealth planning solutions to clients.

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Heather Valle 

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Globe Newswire: 15:00 GMT Friday 12th October 2018

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