Atria Tag

Atria to buy a $4B firm using growth capital

17:29 03 February in In the News by rafferty

February 3, 2021 By Tobias Salinger, FinancialPlanning.com A wealth management holding company with a different approach than most private equity-backed acquirers is buying its sixth independent broker-dealer. Atria Wealth Solutions agreed to acquire SCF Securities, a Fresno, California-based IBD with 150 registered representatives and $4 billion in assets under administration, the firms announced Jan. 27. The parties didn’t disclose the financial terms of the deal, which they expect to close by July. Atria is buying 100% of the IBD, its insurance agency, and its RIA, dubbed SCF Investment Advisors. Read the fulll article on FinancialPlanning.com...

Atria Purchases California’s SCF, Reaches $95B In Assets Under Administration

17:23 03 February in In the News by rafferty

February 2, 2021 By Eric Rasmussen, FinancialAdvisor New York City-based wealth management holding company Atria announced last week it would purchase Fresno, Calif., broker-dealer SCF Securities, a firm with 150 independent financial professionals. With the latest deal, Atria’s broker-dealer subsidiaries will have $95 billion in assets under administration and 2,500 advisors. According to SCF’s Form ADV, it had $1.2 billion in regulatory assets under management as of September, as well as $178 million in non-discretionary assets and some 6,300 individual clients, as well as 200 institutional and corporate clients. The firm opened for business as “Securities Consultants Financial Inc.” in 1992, according to its website. Randy Meadows, the president and CEO of SCF, will continue in his role of president after the acquisition of SCF. The deal was for a 100% purchase of SCF...

Atria Wealth Solutions Buying SCF

19:30 01 February in In the News by rafferty

January 29, 2021 By Michael Fischer, ThinkAdvisor Once the deal wraps up, Atria’s operations will include 2,500 financial professionals with $95 billion in assets under administration. Atria Wealth Solutions is set to buy SCF Securities in a transaction that should close in the first half of 2021. SCF serves about 150 independent financial professionals from its base in Fresno, California, and includes SCF Securities, SCF Investment Advisors and SCF Marketing. SCF will become the sixth broker-dealer Atria has acquired since 2017, joining these subsidiaries: Western International Securities NEXT Financial Group Cadaret, Grant & Co. CUSO Financial Services Sorrento Pacific Financial. Upon the SCF closing, Atria’s subsidiaries will represent a total of over 2,500 financial professionals with some $95 billion in assets under administration. These subsidiaries, collectively, are the fastest-growing U.S. broker-dealers in year-over-year growth by number of financial professionals and...