LPL, Private Advisor Group to Acquire Mariner Advisor Network

LPL Financial Holdings Inc. and Private Advisor Group LLC announced Tuesday they are acquiring Mariner Advisor Network, a segment of the wealth manager and retirement plan advisory Mariner Wealth Advisors LLC. The acquired network supports 367 financial advisers who collectively manage $31 billion in assets. 

Of the 367 advisers, 223 who are already operating on an LPL platform will be directly affiliated with LPL Financial and gain access to its wealth management and business-support solutions.

The other 144 advisers will transition to Private Advisor Group’s hybrid registered investment adviser model and continue working on LPL’s platform and using their same custodians.

In a statement, Marty Bicknell, Mariner’s CEO and president, called the acquisition “an ideal outcome for these advisers, enabling them to broaden their relationship with LPL while maintaining stability and continuity for the clients they serve.”

In November 2025, LPL Financial took minority ownership of Private Advisor Group, which had more than $41.3 billion in assets under management as of June 30, 2025. LPL supports more than 32,000 financial advisers and services and custodies approximately $2.4 trillion in brokerage and advisory assets.

“We recognized an opportunity to deepen our relationship with the advisers affiliated with the Mariner Advisor Network by welcoming them into our growing supported independence community,” said Marc Cohen, LPL Financial’s chief growth officer, in a statement. “Together with Private Advisor Group, we’re committed to enhancing the advisers’ experiences through our continued investment in innovative technology and breadth of wealth management offerings and services.”