Cadaret Grant acquired by private-equity-backed Atria
April 19, 2018
In a move the market has been anticipating for years, the owner of independent broker-dealer Cadaret Grant & Co. has agreed to a sale.
Arthur Grant, president, chief executive and majority owner of the 33-year-old IBD with $23 billion under administration, will move into an advisory role as private-equity-backed Atria Wealth Solutions acquires the business. Terms of the deal were not disclosed.
The deal, announced internally to Cadaret’s more than 900 advisers in 475 offices nationwide, will be the third acquisition since November for Atria, a two-year-old holding company run by three Wall Street veterans.