Atria Announced Agreement To Acquire Grove Point From Kestra Holdings, Onboarding Grove Point’s 400 Professionals And $15 Billion In Assets Without Client Repapering
Atria Wealth Solutions announced a definitive agreement to acquire 100% of Grove Point Financial and its subsidiaries from Kestra Holdings in the second half of 2023, according to a press release issued by the firm earlier this week. Rockville, Maryland-based Grove Point was acquired by Kestra in 2017 and currently serves approximately 400 independent financial professionals with $15 billion in client assets.
Doug Ketterer, Atria’s CEO and Founding Partner, said, “Our combined organization will make us stronger as we continue to support and meet the ever-growing demands of financial professionals and their clients. What is of critical importance in any partnership is fit – both cultural and strategic. This is very much true of our new relationship with Grove Point – the cultures, priorities and philosophies of our firms could not be more aligned, and our ability to grow and deliver a differentiated experience has never been more certain.”