Kansas-based wealth advisory firm Mariner Wealth Advisors has recently completed the acquisition of Spring, a company specialising in providing financial wellness benefits to businesses and their employees.
The terms of the deal have not been disclosed.
This strategic acquisition has led to the establishment of Mariner Financial Wellness, a comprehensive offering that positions Mariner Wealth Advisors as a full-service solution for businesses aiming to provide wealth planning and financial guidance to all employees.
Mariner Wealth Advisors CEO and president Marty Bicknell said: “Across the board, it remains our top priority to positively impact as many individuals and communities as possible, and this addition helps us continue to fulfil that promise.
“The integration of Spring will greatly complement our current retirement service offerings and will allow us to sustain that impact by making financial advice more accessible to employees across the country.”
Mariner Financial Wellness comprises two key components for employees. Firstly, an online portal will offer customised educational content, budgeting tools, goal setting and tracking, as well as a financial health and progress summary.
Additionally, employees will have access to personalised 1-on-1 financial wellness coaching from licensed and trained professionals.
Meanwhile, businesses will benefit from robust reporting that aggregates employees’ financial concerns while maintaining confidentiality, providing data-driven insights into metrics such as debt reduction and savings growth.
The demand for retirement plan sponsors to address broader financial needs among employees has grown, leading to the development of more comprehensive workplace services. Mariner Financial Wellness aligns with this trend, meeting the evolving demands of employers and employees by offering 360º financial support.
The new offering will particularly benefit companies that already receive support from Mariner Wealth Advisors’ retirement plan solutions team in the creation, management, and expansion of their employer-sponsored 401(k) plans.
By addressing the comprehensive financial needs of participants, including wealth management, Mariner Financial Wellness aims to enhance employee retention while prioritizing individual employee well-being.
Spring, founded in 2015 by Founder and CEO Joe Holberg, marks Mariner Wealth Advisors’ first acquisition of its kind, it seamlessly complements the firm’s existing suite of services for businesses and business owners.
These services include wealth and tax planning for executives, retirement plan solutions, as well as specialized offerings like cash management and complex tax and business advisory services.
Joe Holberg will assume the role of Managing Director at Mariner Wealth Advisors, overseeing the operations of Mariner Financial Wellness. This collaboration aims to drive forward the vision of providing comprehensive financial support to businesses and employees alike.
Holberg said: “Throughout the entire journey from the foundation of Holberg Financial in 2015, to its rebrand as Spring in 2021, and now to this next phase with Mariner Wealth Advisors, I have relentlessly focused on building and enhancing a platform that improves employees’ financial education and wellness.
“I’m thankful for the businesses that have been on this journey with us, and I am excited about the opportunities we will be able to share with them now that we are part of Mariner Wealth Advisors.”