Atria Wealth Solutions, Inc. (Atria), a multi-channel wealth management solutions holding company, today announced that it successfully closed the acquisition of Western International Securities, Inc. (WIS). With the close of the WIS acquisition, Atria now serves nearly 2,500 advisors with approximately $75 billion of assets under administration (AUA) across five broker-dealers. The addition of WIS provides independent advisors increased optionality in how they manage their businesses with an expanded set of solutions needed to best serve their clients. WIS, an independent broker-dealer based in Pasadena, CA, brings over 400 independent financial advisors with $11 billion of AUA to Atria.
“The acquisition of WIS is another step forward for our firm, our clients and the financial industry at large. The intensely rapid and evolving wealth management landscape is forcing firms to rethink their value proposition and offer greater expertise and choice to their clients,” said Doug Ketterer, CEO and founding partner of Atria. “Combining WIS’ unique affiliation models and strategic partnerships with Atria’s resources, technology and content creates more choice and an unparalleled experience for all current and future advisors. We are very excited to welcome all of the advisors and employees of WIS and look forward to our bright future together.”
The strategic acquisition of WIS expands the set of affiliation models available to independent advisors to now include a turnkey branch solution. For advisors seeking a seamless transition to independence, the turnkey solution alleviates the burdens associated with procuring office space, choosing critical infrastructure, integrating technology and hiring staff. In addition, WIS’ clearing partnerships add another flexible component to Atria’s solution set for advisors who are looking to affiliate with a technologically innovative and multi-custodial partner.
“We are excited to be working with a group of such exceptional wealth management innovators,” said Don Bizub, CEO of WIS, who is now a part of Atria’s executive leadership team. “Their commitment and focus on elevating the advisor and end-client experience with unique solutions in the wealth management industry completely aligns with our vision and better positions us to serve advisors.”
Atria provides an extensive suite of solutions and tools that are tailored and personalized to meet the needs of financial advisors and financial institutions so they can best serve their clients and build their practices and programs. Atria’s new advisor platform, Unio, which includes critical features like business texting, CRM, business analytics, streamlined account opening, fee-based solutions, personalized dashboards and a client facing portal, Clear1, will be extended to WIS advisors.
WIS is the fifth broker-dealer acquired by Atria since 2017. Atria serves the investment programs of credit unions and banks through its subsidiaries, CUSO Financial Services, L.P. and Sorrento Pacific Financial, LLC, and independent advisors through its subsidiaries, Cadaret, Grant & Co., Inc., NEXT Financial Group, Inc. and Western International Securities, Inc.
SunTrust Robinson Humphrey acted as exclusive financial advisor to Atria. Broadhaven Capital Partners, LLC acted as exclusive financial advisor to WIS.
