Convergence Investment Partners is a investment adviser based in Palm Beach Gardens, FL, that holds a 93.5/100 Fidelon TransparencyScore (88th percentile among SEC-registered advisers), with 4 registered advisors. Score based on public SEC and FINRA filings.
Convergence Investment Partners
Convergence Investment Partners, LLC · CRD #148472
A fee-only investment adviser with a clean regulatory record and fiduciary commitment.
Fidelon Fact Sheet
Convergence Investment Partners, LLC is an SEC-registered investment adviser in Palm Beach Gardens, FL. It used to be called Mariner Quantitative Solutions, LLC. It has 4 registered advisors. It manages $523.6 million across 447 client accounts. It charges a percentage of the money it manages for you, and it does not report earning commissions. Its services include financial planning, retirement plan consulting for employers and educational seminars. Its record shows no customer complaints, regulatory actions or fines.
Peer Context
1,272nd of 10,815
SEC-registered advisers
Top 12%
104th of 799
SEC-registered advisers in FL
Top 13%
5th of 23
SEC-registered advisers in Palm beach gardens, FL
Top 22%
How This Firm Works
Registration & Standard of Care
Investment Adviser — this firm is a registered investment adviser, held to a fiduciary standard — legally required to act in clients' best interests.
How This Firm Gets Paid
- Charges a percentage of assets under management
- Does not earn commissions on product sales
Specializations
Extracted from Form ADV Part 2A brochure
Key Findings
Strengths
- Fee-only compensation — no commission income reported
- Registered as investment adviser with fiduciary obligation
- No broker-dealer registration — advisory services only
- Clean regulatory record — no disclosures, arbitrations, or fines
- Transparent fee structure — charges advisory fees, no commissions
Conflict Audit
Zero material conflicts identified in regulatory filings.
Source: Form ADV Part 1, Items 6-8; Part 2A, Items 10-14
What this firm says about how it gets paid
“You should be aware that the more assets there are in your account, the more you will pay in fees. This means we have an incentive to encourage you to increase the assets in your account.”
“We also participate in a third-party separately managed account models program where we receive a portion of the wrap/program fee collected by the wrap sponsor.”
Source: the firm’s own Form CRS — quoted directly
Regulatory Track Record
0
Disclosures
Clean record — no disclosures found
$0
Total Fines
Clean record — no fines found
Regulatory Events
TransparencyScore Dimensions
Disclosure Record
Customer complaints, arbitrations, and fines. Frequency and recency matter.
100/100
Strong
Avg for investment adviser firms: 82.6 | Top 10%: 99.5
Filing Quality
How clearly the firm describes services, fees, and investment approach in regulatory filings.
93/100
Strong
Avg for investment adviser firms: 84.1 | Top 10%: 100
Conflict Disclosure
How openly the firm explains who pays it and what it's paid to sell. The conflict isn't the problem — hiding it is.
89/100
Strong
Avg for investment adviser firms: 54 | Top 10%: 67
Enforcement History
Self-reported legal and disciplinary history from Form ADV Item 11.
100/100
Strong
Avg for investment adviser firms: 99.7 | Top 10%: 100
Their two-page relationship summary
The SEC requires every SEC-registered investment adviser to hand you this summary, called a Form CRS, and says what it must cover. We checked this firm's against that list. What is a Form CRS?
- Does it include everything the SEC requires?
- Required sections
- 79/100
- Does it explain how the firm's conflicts affect you?
- Conflicts of interest
- 64/100
- Can you tell what you would pay?
- What you pay
- 70/100
- Is it written in plain English?
- Plain language
- 83/100
This firm's Form CRS averages 74 out of 100 and adds 3.5 points to the score above.
What their brochure tells you
The firm must give you this brochure, Form ADV Part 2A, before you sign. We read it against the SEC's own instructions, item by item. Quotes are the firm's own words; page numbers refer to the filed brochure. What is in a brochure?
Can you tell what you'd pay and when?Brochure Fee Clarity90/100
The SEC asks every brochure to spell out the fee schedule, whether fees can be negotiated, how and when you are billed, the other costs you pay, and refunds.
Each point is marked Covered or Not found. When a point is not found, we say what to ask.
- Can you tell what you'd pay?CoveredItem 5.A
Without a fee schedule you cannot compare this firm with any other.
Investment management fees will vary based on the client and strategy but will typically be based on assets under management, ranging up to 0.50% per annum, and 0.95% per annum for the Long/Short Equity Strategy.p. 6
- Does it say whether the fee can be negotiated?Not found in the brochureItem 5.A
If fees are negotiable, other clients may be paying less than you for the same service.
What to askAsk whether the fee is negotiable, and what other clients at your account size pay.
- Does it say whether the fee comes out of your account or gets billed?CoveredItem 5.B
A fee taken straight from your account is easy to stop noticing.
Fees are generally debited by the client's custodian from the account.p. 6
- Does it say how often you're charged?CoveredItem 5.B
Monthly, quarterly, in advance or in arrears changes what you owe when you leave.
Fees are paid quarterly in arrears, calculated by applying the agreed upon fee schedule to the value of a client's portfolio on the last day of the previous calendar quarter.p. 6
- Does it list the other costs you pay, like fund and custodian fees?CoveredItem 5.C
The advisory fee is rarely the whole bill; fund, trading and custody costs come on top.
Our fees are exclusive of administration expenses, brokerage commissions, transaction fees, and other related costs and expenses which shall be incurred by the client.p. 6
- Does it say how you get money back if you leave mid-period?CoveredItem 5.D
If you pay in advance and leave early, the refund rule decides what you get back.
Our fees will be prorated through the date of termination, and any remaining balance shall be charged or refunded to the client, as appropriate, in a timely manner.p. 6
Does it explain each conflict of interest and what it could cost you?Brochure Conflict Specificity85/100
The SEC asks the brochure to name each way the firm gets paid besides your fee, what that tempts the firm to do, and what it can cost you.
Each point is marked Covered or Not found. When a point is not found, we say what to ask.
If the firm gets research or services from a custodian or broker, does it explain them?
Research or services received from a custodian or broker (soft dollars)
- Does the brochure name this conflict where the SEC requires?CoveredItems 10/11/12.B/14
A conflict named in the right place is one the firm has thought about; one buried elsewhere is easy to miss.
When we use soft dollars to obtain research or other products or services, we receive a benefit because we do not have to pay for the research, products or services directly.p. 18
- Does it explain what this arrangement tempts the firm to do?CoveredStaff Bulletin Q11
You can only judge advice when you know which way it is being pulled.
Additionally, we have an incentive to select or recommend a broker-dealer based on the Firm’s interest in receiving the research or other products or services, rather than on a client’s interest in receiving most favorable executionp. 18
- Does it describe what the arrangement actually is?CoveredStaff Bulletin Q11
A conflict described in one vague sentence tells you it exists but not how it works.
The research products and services we receive include some or all of the following: order entry software, securities research, account access capabilities, economic analysis and forecasts, and financial market data, analysis and forecasts.p. 18
- Does it say what the firm is paid for it?Not found in the brochureStaff Bulletin Q11
The size of the payment tells you how strong the pull is.
What to askAsk how much the firm or its people receive from this arrangement in a typical year.
- Does it say how the firm comes out ahead?CoveredStaff Bulletin Q11
Benefits that are not cash, like free services or referrals, still shape advice.
When we use soft dollars to obtain research or other products or services, we receive a benefit because we do not have to pay for the research, products or services directly.p. 18
- Does it say what it can cost you?CoveredStaff Bulletin Q11
Every conflict has a price; the question is whether the brochure puts it in your hands.
clients may pay commissions greater than those charged by discount brokers in order to receive soft dollar benefits.p. 18
- Does it say how the firm keeps this conflict in check?Not assessed yetItems 10.C-D, 11.B-D, 14.A
A conflict with no control on it is left to the advisor's goodwill.
What to askAsk what the firm receives from the custodian or broker it uses for you, and whether that costs you anything.
Do they earn commissions on products, and do they say so?Brochure Sales CompensationNot applicable
Not applicable: the brochure describes no product-sales commissions
Do they get free research or services from brokers, and does it affect you?Brochure Soft Dollars100/100
When brokers give the firm research or services in return for your trades, the SEC asks the brochure to say what the firm gets and what it may cost you.
The brochure answers every one of these.
- Does it list what the firm gets from brokers for free?CoveredItem 12.A.1.e
Research, software and data paid for by your trades are a cost you never see.
The research products and services we receive include some or all of the following: order entry software, securities research, account access capabilities, economic analysis and forecasts, and financial market data, analysis and forecasts.p. 18
- Does it say the firm benefits by not paying for those things?CoveredItem 12.A.1.a
A perk the firm would otherwise buy is money in the firm's pocket, paid with your trades.
When we use soft dollars to obtain research or other products or services, we receive a benefit because we do not have to pay for the research, products or services directly.p. 18
- Does it say those perks can shape which broker it picks for you?CoveredItem 12.A.1.b
Your trades should go where you get the best deal, not where the firm gets the best perks.
Additionally, we have an incentive to select or recommend a broker-dealer based on the Firm’s interest in receiving the research or other products or services, rather than on a client’s interest in receiving most favorable executionp. 18
- Does it say whether those perks stay within what the law allows?CoveredItem 12.A.1.e note
The law allows research paid for with client trades only within limits; outside them, it is your money.
In all cases, we believe such research and brokerage services are important to our investment decision-making.p. 18
- Does it say whether you pay more in trading costs because of those perks?CoveredItem 12.A.1.c
Paying up for trades to earn the firm a perk comes straight out of your returns.
clients may pay commissions greater than those charged by discount brokers in order to receive soft dollar benefits.p. 18
- Does it say whether every client benefits or only some?CoveredItem 12.A.1.d
Your trades may be paying for research that helps other clients' accounts, not yours.
Where a product or service has a mixed use, we will make a reasonable allocation of the cost of the product or service according to its use and will pay for the non-research and brokerage function in cash using the Firm’s own funds (not client commissions).p. 18
A point not found is not a finding against the firm; many points apply only when the firm has that arrangement, and state-registered firms file the same brochure form.
Next Steps
Advisor Roster
4 advisors
| Advisor | CRD | Score | Grade |
|---|---|---|---|
| David James Abitz | 2650834 | — | — |
| John Christopher Callen | 2236866 | — | — |
| Justin Evans Neuberg | 6224180 | — | — |
| Todd John Hanson | 1910727 | — | — |
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Frequently Asked Questions
What does the TransparencyScore measure?
The TransparencyScore measures how clearly and completely an advisor or firm discloses important information in their regulatory filings — things like fees, conflicts of interest, disciplinary history, and business practices. A higher score means better disclosure quality, not better investment performance.
Where does this data come from?
All data comes from public regulatory filings: SEC Form ADV (Parts 1, 2, and 3), FINRA BrokerCheck, and the SEC's Investment Adviser Public Disclosure (IAPD) database. These are official filings that firms and advisors are legally required to submit.
Does a low score mean they're a bad advisor?
Not necessarily. A low score means the firm's public filings are less transparent — they may use vague language about fees, skip details about conflicts, or have a more complex regulatory history. Some excellent advisors work at firms with poor disclosure practices. The score measures the filing, not the person.
How often is this data updated?
Fidelon refreshes data from SEC and FINRA sources on a regular schedule. Form ADV filings are updated annually by firms (with amendments throughout the year), and BrokerCheck data is updated as events are reported. Scores are recalculated after each data refresh.
Can an advisor or firm improve their score?
Yes. Scores are based on what's in public filings. A firm that rewrites its ADV brochure in clearer language, discloses conflicts more specifically, or resolves outstanding regulatory issues will see its score improve at the next refresh. The incentive structure is intentional.
Data Sources
Scores are generated using Fidelon's published scoring methodology and reflect the quality of public disclosures, not the quality of investment advice. A firm that improves its disclosures will see its score improve. Fidelon does not provide investment advice.
Verify on SEC IAPD
Last scored: · Score version: 3.15 · CRD #148472