Mariner Adds $500M in Assets with Two Multigenerational Firm Deals

OVERLAND PARK, KS – April 16, 2026 – National financial services firm Mariner today announced the acquisition of two multigenerational advisory teams, adding a combined $500 million in assets under management. The deals bring a St. Louis-based firm led by Blake and Connor Dunlop and a Timonium, Maryland-based practice led by Grant Palmer III into the Mariner fold, underscoring a powerful trend of consolidation and succession planning sweeping the wealth management industry.

The transactions, which closed on March 31 and April 15 respectively, represent a strategic move for both the advisory teams and Mariner. The smaller firms gain access to the extensive resources of a national powerhouse, while Mariner expands its geographic footprint and reinforces its role as a preferred destination for advisory practices planning for the future.

“Growth, for us, is intentional, rooted in relationships, and guided by our purpose to positively impact the lives of many,” said Marty Bicknell, president and CEO of Mariner, in a statement. “Advisors join Mariner because they want a partner who can help them evolve and build enduring businesses across generations.”

A Strategic Fit for Growth and Continuity

The larger of the two acquisitions is the Dunlop-led team in St. Louis, a three-person practice overseeing approximately $400 million in assets. The firm, which provides comprehensive financial planning for families, business owners, and professional athletes, has a history rooted in partnership. Blake and Connor Dunlop previously launched Edwards Wealth Management in 2019 as a corporate RIA with Benjamin F. Edwards & Co., after having merged their practices nearly a decade earlier. The move to Mariner is framed as the next logical step in their evolution.

“After working in partnership with Blake for more than 20 years and taking on more of the day-to-day operations over the past seven, it became clear we needed a like-minded firm who could fully help advance our long-term growth objectives,” said Connor Dunlop, who serves as managing principal. “We’re proud of the foundation we’ve built together and are excited to leverage Mariner’s leading investment infrastructure for our current and future clients.”

The second team, a Timonium, Maryland-based practice led by Grant Palmer III, manages approximately $100 million in assets. With nearly three decades of experience in evidence-based investing and retirement planning, the firm was similarly focused on finding a partner to ensure a smooth, long-term generational transition. Palmer, a Certified Financial Planner, previously served as an advisor with Waypoint Wealth Management.

“Our philosophy has always been to help clients find clarity and confidence throughout their financial journey,” Palmer stated. “By joining Mariner, we can continue delivering personalized advice while broadening the resources available to navigate a more complex set of financial decisions.”

Both teams will now operate under the Mariner brand, fully integrating into the firm’s national platform.

Part of an Aggressive M&A Pattern

These acquisitions are not isolated events but rather the latest in a long and aggressive campaign of growth for Mariner. Founded in 2006 with a modest $300 million in assets, the firm has leveraged a relentless M&A strategy to swell its assets under advisement to over $632 billion by the end of 2025. With 38 acquisitions on record, the company has demonstrated a consistent appetite for expansion, with peak activity in 2019 and 2022.

Recent history shows this strategy accelerating. In early 2024, Mariner made waves by acquiring AndCo Consulting and Fourth Street Performance Partners, adding a staggering $104 billion in assets and forming its Mariner Institutional division. This was followed by a string of deals, including the January 2025 acquisition of Cardinal Investment Advisors, which brought in another $292 billion in assets under advisement. Just this year, the firm has already acquired First National Advisors and Strava Wealth, adding a combined $1.8 billion.

This inorganic growth is complemented by strategic refinement. In a notable move this month, Mariner sold its Mariner Advisor Network, a subsidiary of 367 independent advisors, to LPL Financial and Private Advisor Group. Bicknell framed the sale as a move to “invest more intentionally” in its core integrated wealth platform, sharpening its focus on the very model that attracted the Dunlop and Palmer teams.

The Industry’s Succession Imperative

The deals reflect a critical challenge facing the entire wealth management sector: succession planning. The industry is in the midst of a record-breaking M&A boom, with 2025 closing as one of the most active years on record. Analysts forecast that over 1,500 significant mergers could occur by 2029, potentially reducing the number of large independent firms by as much as 20%.

A primary driver of this consolidation is an aging demographic of firm founders. With many RIA owners approaching retirement, they are seeking partners like Mariner to ensure their life's work continues and their clients are cared for. Research indicates that nearly two-thirds of firms feel their next-generation talent is not ready to take over, making an external sale the most viable path to continuity. These sellers are looking for more than just a liquidity event; they are seeking economies of scale, access to sophisticated technology, and a broader suite of services to offer clients—all while preserving the cultural and relational fabric of their practice.

What the Change Means for Clients

For the clients of the Dunlop and Palmer teams, the transition to Mariner promises both new opportunities and potential adjustments. The primary benefit, as highlighted by Mariner, is access to a vastly expanded toolkit. Clients can now tap into in-house specialists for complex needs in tax planning, estate law, insurance, and even investment banking—services typically beyond the reach of smaller independent firms.

This integrated approach aims to create a more seamless and holistic financial planning experience. Advisors, freed from many back-office and operational burdens, can theoretically devote more time to client-facing activities and strategic advice. However, the transition from a small, boutique firm to a national giant is not without its challenges. Clients accustomed to a certain level of intimacy may worry about becoming a small fish in a very large pond.

While Mariner emphasizes continuity, integration inevitably brings change. This can include adjustments to fee structures, new technology platforms, and a different cadence of communication. The key to a successful transition will be Mariner’s ability to deliver on its promise of enhanced resources without sacrificing the personalized service that defined these advisory teams and built their clients' trust over decades.