Atria Wealth Solutions (Atria) has completed the takeover of Pasadena, California based independent broker-dealer Western International Securities (WIS).
The deal, whose financial details were not revealed, was announced in November last year.
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WIS, the fifth broker-dealer snapped up by Atria since 2017, adds $11bn of AUA to Atria’s books.
The deal also adds more than 400 independent financial advisers to Atria, a New York-based wealth management solutions holding company.
Upon deal completion, Atria has AUA of around $75bn and caters to around 2,500 advisers.
The deal expands the affiliation models for independent advisers to include a turnkey branch solution.
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By GlobalDataThe turnkey solution addresses issues related to procuring office space, selecting critical infrastructure, integrating technology and hiring employees for advisers looking to go independent.
Moreover, Atria is also said to benefit from WIS’ clearing partnerships.
On the other hand, Atria’s new adviser platform Unio along with Clear1 will be extended to WIS advisers.
Unio incorporates features such as business texting, CRM, business analytics, streamlined account opening, fee-based solutions, personalised dashboards and a client facing portal.
Atria CEO and founding partner Doug Ketterer said: “Combining WIS’ unique affiliation models and strategic partnerships with Atria’s resources, technology and content creates more choice and an unparalleled experience for all current and future advisers.”
