Atria Wealth Solutions plans to acquire a large independent broker-dealer in California, the company says.
Atria signed an agreement with the Pasadena, Calif.-based company Western International Securities to acquire it in a deal set to close in the first quarter next year, according to a press release from Atria. Founded in 1995, WIS currently serves more than 400 independent financial advisors, representing over $13 billion in assets under administration, Atria says. The broker-dealer offers various services for independent advisors, including support staff, a turnkey branch solution and integrated technology, according to the press release.
“WIS has always been about providing a differentiated advisor experience. Our sole purpose is to delight our financial advisors,” Don Bizub, CEO of WIS, says in the press release. “Atria’s unique and innovative team shares those values.”