Mariner, a national financial services firm, has completed a strategic integration with Ocean Heights Advisors, a Newport Beach-based wealth management firm with $730 million in assets under advisement. This transition represents a pivotal milestone in Mariner's growth strategy and provides a clear pathway for advisory firm succession, addressing a critical industry challenge. The integration follows a three-year partnership that began in 2022 when Ocean Heights first joined Mariner's independent platform, allowing the firm to maintain its independence while leveraging operational support.
The partnership model proved highly effective, enabling Ocean Heights to nearly double its assets under advisement and expand its client services over three years. This growth trajectory demonstrates the viability of Mariner's approach, which combines independence with strategic support. As part of the transition, all members of the Ocean Heights team, including Founders Kevin O'Grady and Nella Webster, will continue in their current roles, ensuring continuity for clients. Current partners Kevin Barlow, Danielle Bronner, and Kara Devar will become Mariner shareholders, with Barlow leading the expanded Newport Beach operations, creating a clear leadership transition.
Marty Bicknell, CEO and president of Mariner, emphasized the strategic importance of this transition, noting that it demonstrates the firm's commitment to providing financial advisors with a clear succession pathway and seamless client experience. The integration allows advisors to maintain independence initially while having the option to fully integrate into Mariner's infrastructure in the future, offering flexibility that addresses varying advisor needs. This approach ensures long-term business continuity, provides expanded resources for advisors, and maintains uninterrupted service for clients, which is particularly important in wealth management where client relationships are paramount.
By offering ownership opportunities to the next generation of financial professionals, Mariner is positioning itself as a forward-thinking leader in the financial services industry. The agreement was signed in December 2024 and became effective April 1, 2025, marking a significant expansion of Mariner's presence in the Newport Beach market. Mariner, which started in 2006 with $300 million in assets under advisement, now advises on over $560 billion in assets, showcasing remarkable growth and strategic expansion through partnerships like this one. This integration model provides a template for other advisory firms facing succession challenges while demonstrating how strategic partnerships can drive substantial growth in assets under management.
