New York City-based Atria Wealth Solutions has concluded the takeover of independent wealth manager SCF Securities.

The deal was first announced by Atria in January this year.

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With the closing, Atria owns 100% of SCF Securities, SCF Investment Advisors, and SCF Marketing. It now serves more than 2,500 financial professionals with nearly $95bn in assets under administration.

Atria CEO and founding partner Doug Ketterer said: “We are thrilled to welcome SCF into the Atria family. We share a collective vision for offering the best experience and exceptional service to financial professionals, making the combination a great fit for both firms.

“Both companies believe in the criticality of the advisor-client relationship and making it easier for financial professionals to create deeper and more meaningful interactions with clients and prospects by delivering the best-in-class tools, technology, investment solutions, resources and services.”

Atria said it will invest in technology and capabilities that will offer financial professionals a competitive advantage in the marketplace.

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The company offers its subsidiary broker-dealers access to tools such as the integrated advisor platform, Unio, intuitive client-facing portal Clear1, and a fully fee-based advisory platform, Contour.

These solutions, together with a range of product solutions as well as practice management and marketing tools, will be offered to SCF.

SCF president Randy Meadows commented: “This partnership with Atria is really an extension of SCF. Atria’s values align perfectly with our culture, and their relentless commitment to pursue the voice of the financial professional in all they envision, build and implement is unmatched.”

SCF is the sixth broker-dealer acquired by Atria. It joins the company’s current subsidiaries Cadaret, Grant & Co., NEXT Financial Group, Western International Securities, CUSO Financial Services and Sorrento Pacific Financial.