Atria Wealth Solutions says it closed the acquisition of a large independent broker-dealer based in Pasadena, Calif.
The acquisition of Western International Securities, a firm founded in 1995, will bring more than 400 financial advisors and $11 billion in assets under administration to Atria, according to a press release from Atria. With the current addition — the fifth broker-dealer acquired by Atria since 2017 — Atria now serves close to 2,500 advisors with around $75 billion in AUA, the company says.
The addition of WIS will expand the type of affiliation models available to Atria’s independent advisors to now also include “a turnkey branch solution,” according to the press release. Furthermore, the acquisition brings advisors served by Atria WIS’s clearing partnerships, Atria says.