Mariner Wealth Advisors seeks $150 million loan add-on; Moody's sees year-end debt/EBITDA at 6.7x

Mariner Wealth Advisors is seeking $150 million in additional debt to fund near-term acquisitions, lifting its term loan B to $1.3 billion from $1.16 billion. S&P Global Ratings and Moody's Ratings said the borrowing would not affect the firm's credit ratings, according to WealthManagement.com.

Moody's expects Mariner's debt to EBITDA to reach 6.7x by year-end, up from 4.9x on June 30, 2026 — 1.8 turns in six months. The agency assigns a B1 rating to the corporate family and senior secured first-lien term loan and described 6.7x as high for a B1-rated issuer.

Moody's said it expects significant deleveraging over the next year, adding that "a failure to achieve significant leverage reduction would put downward pressure on the ratings." "Given its strong organic growth record, Mariner has shown in the past that it can rapidly lower leverage," the agency said.

The report flagged an aggressive acquisition strategy, high financial leverage, weak profitability, and key person risk from founder and CEO Marty Bicknell. It also credited Mariner's growing scale and improving competitive position in U.S. wealth management.

"This additional $150 million gives Mariner the flexibility to pursue strategic acquisitions while continuing to invest in our advisors and the capabilities that support their growth," a Mariner spokesperson said. The spokesperson added that the firm remains "focused on disciplined growth."

Last December, Mariner took on a $1.02 billion first-lien term loan B plus a $150 million fungible add-on due in 2030, with proceeds expected to refinance existing debt. The new add-on is fungible to that facility, adding principal without reopening the capital structure.

Mariner's latest disclosed acquisition is Atlantic Wealth Partners, a Jupiter, Fla., advisory firm with about $218 million in assets. Mariner reported $660 billion in client assets as of June 30, 2026.

$150 million is roughly 11.5% of the $1.3 billion term loan. As this publication argued in September, integration capacity is the scarce asset in this market, and Mariner has already budgeted for it.