Mariner Wealth Advisors, a national wealth advisory firm based in Overland Park, Kan., has entered into non-binding agreements to acquire the tax practices of David G. Miller & Associates LLC in Chatham, N.J., and G.M. Bremer & Associates in El Segundo, Calif., according to a news release.
Details of the transactions were not disclosed.
Founded in 2010, G.M. Bremer & Associates provides income tax preparation and planning for businesses and individuals, IRS and state audit representation, business consulting and estate planning, and other tax-related services. President Geoffrey M. Bremer and his team of six associates will manage Mariner's tax practice in the El Segundo location.
David G. Miller & Associates, established in 2004, is experienced in income, gift and payroll tax preparation for high-net-worth individuals and their families. Founder David Miller, partner Ellen Elise Peifer and a team of nine tax professionals will transition to Mariner.
In addition to the two teams managing their respective office locations, Mariner will hire seasoned wealth advisors to expand their staff.
The strategic acquisitions stem from Mariner’s tax expansion plan, announced at the beginning of the year with the launch of a national tax practice. Mariner is reportedly looking to acquire CPA firms that share a common mission to deliver tax-savings solutions designed to work in collaboration with a client’s overall wealth plan.
Since its inception, Mariner has not only acquired advisory firms, but also insurance companies and investment banks to serve advisor associates. However, Mariner CEO Marty Bicknell earlier this year said his focus is also on expanding the firm’s tax services.
According to Bicknell, many wealth advisors tend to underrate the importance of tax planning services to a client’s holistic wealth plan, and he disputed the widely-held industry view that tax preparation is a low-margin ancillary service.
With a growing and robust portfolio of tax-planning firm acquisitions, Mariner is not only buying talent but is seeking to hire it in multiple locations including Cincinnati, Denver and San Diego, according to Rich Rosenberg, Mariner's director of tax and insurance.
Tax consultants hired by the firm will build and oversee client relationships with high-net-worth individuals in need of tax service, planning, projects and compliance. Candidates should have a bachelor’s degree in accounting or a related field of study, with eight to 12 years of related experience. CPAs are preferred.