Mariner Wealth Advisors today announced that it will acquire Arbor Wealth Management, a Miramar Beach, Fla.-based firm with about $527 million in assets under administration, according to a news release.

Terms of the deal were not disclosed. Arbor Wealth Management will assume the Mariner Wealth Advisors name when it joins the firm on Feb. 28. The firm will continue to operate business as usual with its current team in place, the release said.

This marks the first deal of the new year for the Overland, Park, Kan.-based Mariner Wealth Advisors, as it continues its aggressive growth strategy. It is also the firm's fifth office in Florida. The firm closed 14 acquisitions in 2021 and earlier this year President and CEO Marty Bicknell told Financial Advisor that they are probably on track to do anywhere between three to five acquisitions per quarter for 2022.

“Arbor Wealth’s proven track record of growth and stellar group of advisors make the team an ideal fit to integrate into our fast-growing, close-knit culture,” Bicknell said in a statement. “I’m excited to welcome this next generation of leaders and advisors to the Mariner Wealth Advisors family.”

Founded in 2010 by Margaret McDowell, the release noted that the firm has grown more than 2,000% since its inception. McDowell’s sons Patrick and Andrew McDowell joined the firm in 2011 and 2013, respectively, according to the Investment Adviser Public Disclosure website. “The McDowell’s family values translate directly to their business, taking an honest, client-first approach to their offerings of wealth management, financial planning, and asset management,” the release said.

Patrick McDowell, wealth manager, said he is proud of the accomplishments, growth and reputation the firm has built among clients and the broader wealth advisory community. “We place a strong emphasis on respect, empathy, and community and know that Mariner Wealth Advisors shares those same values on which we pride ourselves and will continue to uphold,” he said in a statement.

“Joining Mariner Wealth Advisors provides access to expanded wealth management capabilities,” added Andrew McDowell, wealth manager. “We look forward to operating as part of a larger brand and continuing to drive growth under the Mariner Wealth Advisors name.”

Founded in 2006 with $300 million in AUA, Mariner Wealth Advisors advises on $60 billion in client assets in 69 offices in 31 states.