Mariner Wealth Advisors, LLC 401(k) Review & Grade
Mariner Wealth Advisors, LLC 401(k) Plan
Overland Park, KSFinance & Insurance1,716 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,104Employer $ per active participant
$15,015Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$278.3MNet plan assets, end of year
$145,626Average balance per account
Score breakdown
- Employer generosity28.5 / 5057th percentile for employer $ per participant
- Low cost19.3 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving13.5 / 1590th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 77th |
| Employee saving | 90th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $110,165 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mariner Wealth Advisors put in about $4,104 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $7,044,705 |
| Participant (employee) contributions | $25,773,571 |
| Other contributions (incl. rollovers in) | $6,681,183 |
| Administrative expenses paid from the plan | $203,286 |
| Investment advisory & management fees | $43,948 |
| Benefits paid out | $13,164,381 |
| Net assets, start / end of year | $186.9M / $278.3M |
| Active participants, start / end of year | 1,563 / 1,870 |
| Participants with account balances | 1,911 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Marksnelson, LLC |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $186,489 reported compensation |
| Mariner LLC | $10,579 reported compensation |
| Charles Schwab & Co., Inc. | $3,054 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251028140113NAL0006969585001, received 2025-10-28, EIN 26-2766689, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.