Mariner has significantly expanded its financial advisory services through the acquisition of Woodbridge International, a New Haven, Connecticut-based mergers and acquisitions firm. This move, finalized on August 30, 2024, integrates Woodbridge's 30-year expertise and global reach into Mariner's portfolio, particularly enhancing its sell-side M&A advisory services. Woodbridge International is renowned for its innovative approach to M&A transactions and operates offices in New Haven, CT, and Cape Town, South Africa, with access to a vast global database of potential buyers.
Marty Bicknell, CEO and president of Mariner, highlighted the acquisition as a transformative step towards delivering comprehensive, client-focused financial services. The merger aligns with Mariner's core values and its mission to empower clients through complex M&A processes. This strategic move is timely, given the financial advisory landscape's current dynamics, including the anticipated retirement of 35% of financial advisors over the next decade and the projected $17 trillion in small business sales in the next 20 years.
Robert Koenig, CEO of Woodbridge International, expressed optimism about the merger's potential to double the business in the coming years. The integration of Woodbridge's team and operations into Mariner is expected to be completed by the end of the year, with Woodbridge maintaining its current offices and brand during the transition. This acquisition not only strengthens Mariner's position in the wealth advisory market but also enhances its ability to serve its 1,200 business owner clients during critical business transitions.
Founded in 2006, Mariner has grown from $300 million in assets under advisement to over $245 billion as of June 30, 2024. The firm's comprehensive approach, including in-house professionals across various financial services, allows for the creation of tailored wealth plans. The merger with Woodbridge International is a strategic response to the evolving needs of business owners and high-net-worth individuals, offering them access to a broader range of services and expertise.
This acquisition underscores the importance of specialized services in meeting client needs and highlights the trend of consolidation within the financial advisory sector. For clients of both firms, the merger promises more comprehensive financial strategies, particularly valuable as many business owners approach retirement. Mariner's enhanced capabilities in M&A advisory services position it to influence middle-market M&A trends, setting a potential model for other firms looking to expand their services.
