Mariner Wealth Advisors will acquire institutional investment consulting firms AndCo Consulting and Fourth Street Performance Partners in a concurrent transaction.
A spokesperson for Mariner said terms of the deals were not disclosed.
The transactions will result in adding an additional $104 billion in assets under advisement as well as 100 associates to Mariner, said a Feb. 1 release.
AndCo is based in Winter Park, Fla., while Fourth Street is based in Covington, Ky.
Fourth Street will merge with AndCo upon closing of the transaction, with each entity retaining their existing teams and will focus on serving institutional clients under the Mariner Institutional brand, the release noted.
The transactions are expected to close in early April.
"The complementary nature of our clients and services will support our joint growth and offer existing clients and prospects additional services that will help enhance the overall client outcome," said Marty Bicknell, president and CEO of Mariner Wealth Advisors, in the release.
Mariner and its affiliates advised on more than $122 billion in assets as of Dec. 31.
