Mariner Independent Recruits Pennsylvania Team From Commonwealth

Core Insights - Mariner Independent has successfully recruited a team of advisors from Commonwealth Financial Network, enhancing its growth strategy and expanding its client base [1][2] - The Strategic Path Retirement team, which includes experienced advisors, aims to serve tech professionals, business owners, and retirees [2] - Mariner Independent currently manages approximately $5.6 billion in assets as of December 31, 2024, indicating a strong position in the market [3] Company Developments - The Strategic Path team consists of Bob Malcolm, Brian Hill, Edith Meyer, Edward Schoeb, and Will Meyer, all of whom bring significant experience from their previous affiliations [2] - Rob Sandrew has been appointed to oversee Mariner's independent division, focusing on advisor recruitment and succession planning [3] - Mariner is actively working to enhance engagement with affiliate advisors, including hiring a liaison for better collaboration [3] Industry Trends - Commonwealth Financial Network has experienced attrition of advisor teams following its acquisition by LPL Financial, with competitors like Raymond James and Cetera benefiting from these departures [4][5][6] - Raymond James has added multiple firms from Commonwealth, significantly increasing its assets under management, including a recent addition of $261 million and another of $1.1 billion [5] - LPL Financial, while anticipating some attrition, expects to retain 90% of its approximately 2,900 advisors, emphasizing its commitment to maintaining service quality [6][7]