Mariner Wealth Advisors acquires second Houston wealth management firm

Pedro Gonçalves
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Mariner Wealth Advisors acquires second Houston wealth management firm

Kansas-based Mariner Wealth Advisors has agreed to purchase SMS Capital Management, a wealth manager based in Houston.

Founded in 2004, SMS has more than $110m in assets under management. It's led by founder and principal Steven Sheldon, who remains with the company.

"We are incredibly excited to have made a second acquisition in the Houston area," Mariner CEO Marty Bicknell said in a release. "Steven and his associate are the perfect complement to the team we already have in Houston. This was a natural fit, given we share the same philosophy of putting clients first by providing comprehensive wealth management to help them reach their unique goals."

We are incredibly excited to have made a second acquisition in the Houston area"

The latest acquisition is Mariner's second in Houston. The firm entered Houston with the takeover of Patriot Wealth Management, a transaction that was announced last year and concluded this January.

With the takeover of SMS, the total number of acquisitions made by Mariner in 2019 rises to seven.

Mariner's other purchases this year include that of Martin Financial Group, RTB Consulting, Foundations Wealth Management, Authent Advisors and Singer Xenos Schechter Sosler.

Mariner intends to purchase five more firms by the end of 2019, Bicknell said.

Based in Overland Park, Kan., Mariner Wealth Advisors has grown to more than $22bn in assets under management as of 31 January Founded in 2006, the company now has offices in 33 cities.

 

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