View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
January 28, 2021

Atria Wealth Solutions to take over California wealth manager SCF Securities

By Verdict Staff

Atria Wealth Solutions, a New York City-based multi-channel wealth management solutions holding company, has agreed to buy California-based independent wealth manager SCF Securities.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Financial terms of the deal, which is anticipated to close in the first half of this year, were not shared.

Founded in 1992, SFS serves nearly 150 independent brokers.

According to Atria, when the deal closes, its subsidiaries in total will represent over 2,500 financial professionals and administer around $95bn in assets.

The purchase of SCF advances its subsidiaries’ focus on growth in fee-based assets as well as its multi-custodial strategy.

Atria CEO and founding partner Doug Ketterer said: “SCF is a growth-oriented firm with a very strong advisory business and is well known for providing exceptional, personalised service.

“SCF’s focus on meeting the growing expectations of financial professionals and their clients completely aligns with our vision for reinventing the adviser experience and providing solutions that enhance the advisor and client relationship.”

SCF president and CEO Randy Meadows added: “I am absolutely thrilled for the opportunity to join Atria and the unmatched advantage this partnership brings to SCF advisers.

“With Atria at our side, our ability to provide our advisers with additional resources, enhanced technology, and an even greater level of support, grows exponentially.”

As part of the deal, Meadows will continue to lead SCF as its president, operating from the company’s Fresno headquarters.

Atria’s exponential growth strategy

The latest deal marks sixth acquisition by Atria since 2017.

The company’s previous purchases include Western International Securities, NEXT Financial Group, Cadaret, Grant & Co, CUSO Financial Services, and Sorrento Pacific Financial.

In addition to M&A activities, Atria has been focusing on investing in solutions to boost scale and efficiency.

These include investment in its subsidiaries’ proprietary adviser platform Unio, client-facing portal Clear 1, and fee-based advisory platform Contour.

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International