Atria Wealth Acquires Fifth Broker-Dealer
November 22, 2019
Atria Wealth Solutions is adding a fifth broker-dealer to its network.
The company, founded in 2017 by Morgan Stanley vet Doug Ketterer, said Thursday it was buying Western International Securities, a Pasadena, Calif.-based independent broker dealer that serves more than 400 financial advisors with $13 billion in assets under administration.
Western International works with advisors in a variety of ways, including a “turnkey branch solution” that provides them with office space, integrated technology, and support staff.
“We are seeing a greater number of advisors who want independence, but, at the same time, they don’t want to spend time on the array of decisions that come with this choice like finding an office, selecting technology and hiring support staff,” said Ketterer, Atria’s CEO, in the news release announcing the deal. “Our new partnership with WIS will allow us to meet this growing demand.”