Atria Wealth Solutions, a New York City-based multi-channel wealth management solutions holding company, has agreed to buy California-based independent wealth manager SCF Securities.
Financial terms of the deal, which is anticipated to close in the first half of this year, were not shared.
Founded in 1992, SFS serves nearly 150 independent brokers.
According to Atria, when the deal closes, its subsidiaries in total will represent over 2,500 financial professionals and administer around $95bn in assets.
The purchase of SCF advances its subsidiaries’ focus on growth in fee-based assets as well as its multi-custodial strategy.