Two financial advisors who were with Choreo Advisors for over 20 years have left to join Mariner Platform Solutions, an affiliate of Mariner Wealth Advisors that offers a suite of resources to independent financial advisors who seek to scale their businesses and concentrate on serving clients without back-office distractions.
Seattle-based Scott Hitchcock and Des Moines, Iowa-based Chad Tramp have launched XRSM Wealth Management on Mariner’s platform, the company confirmed. Hitchcock had been with Choreo for 21 years, while Tramp had been with the firm for 22 years.
“Mariner offers one of the industry’s most robust platforms, designed to empower advisors with the freedom to grow their business their way while providing the full-service support needed to deliver an exceptional client experience,” a Mariner spokesperson said in a statement. “We currently support more than 1,000 advisors on this platform, and we look forward to adding even more firms in the months ahead. Scott Hitchcock and Chad Tramp of XRSM exemplify the type of advisor who thrives in our model, and their contributions will be felt immediately across our network and throughout the Mariner family.”
In March, Mariner Wealth Advisors announced its first transition from its independent advisor platform to a full Mariner firm, a move CEO and President Marty Bicknell sees as Mariner’s succession capabilities in action. Ocean Heights Advisors, a Newport Beach, Calif.-based RIA, joined mega-RIA Mariner’s independent advisor channel in 2022. In April, the $730 million Ocean Heights transitioned into being a full Mariner firm, giving up independence to gain closer access to Mariner’s scale and resources.
Mariner set up its independent advisor channel in 2020 through a partnership with Dynasty Financial Partners, in which advisors were 1099 contractors. In 2021, Mariner took on the independent setup and ended the relationship with Dynasty.
Bicknell said the independent channel has since grown to 270 firms representing $34 billion in assets, with more additions this year.
When developing the program, Mariner thought bringing over independents from the channel would be an opportunity, but wasn’t sure to what extent, Bicknell said. The core reason for starting the W-2 side of the business was to leverage Mariner’s scale in marketing, human resources and compliance divisions, as well as services such as tax planning, trusts and estates, and investment banking for closely held businesses.
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