Deals Of The Day: The Latest In Wealth Management M&A - Atria, WIS

Editorial Staff

22 May 2020

Atria, Western International Securities
Atria Wealth Solutions, a wealth management group, has closed its acquisition of Western International Securities, a broker-dealer overseeing $11 billion in assets under administration. As a result of the deal Atria now serves almost 2,500 advisors, and has about $75 billion in AuA.

The financial terms of the acquisition weren’t disclosed. WIS is the fifth broker-dealer acquired by Atria since 2017.

The deal suits both sides, Atria said. Buying WIS expands the affiliation models available to independent advisors to now include a turnkey branch solution. For advisors trying to become independent, the turnkey solution makes it easier to get office space, choose critical infrastructure and handle other matters.

“The intensely rapid and evolving wealth management landscape is forcing firms to rethink their value proposition and offer greater expertise and choice to their clients," Doug Ketterer, chief executive and founding partner of Atria, said.

Atria serves the investment programs of credit unions and banks through its subsidiaries, CUSO Financial Services, LP and Sorrento Pacific Financial and independent advisors through its subsidiaries, Cadaret, Grant & Co, NEXT Financial Group, and Western International Securities.

SunTrust Robinson Humphrey acted as exclusive financial advisor to Atria. Broadhaven Capital Partners, LLC acted as exclusive financial advisor to WIS.