Atria Scoops Up IBD With Turnkey Model
November 21, 2019 By Diana Britton, WealthManagement.com The firm will acquire Western International Securities, adding 400 advisors and a new affiliation model. Atria Wealth Solutions announced plans Thursday to acquire Western International Securities, a Pasadena, Calif.-based independent broker/dealer with over 400 advisors and $13 billion in client assets under administration. The deal, expected to close in the first quarter 2020, would bring Atria’s total network to nearly 2,500 advisors and $80 billion in assets. Western International Securities would be Atria’s fifth IBD acquisition since it was launched in August 2017 by former Morgan Stanley executive Doug Ketterer. He initially launched into the financial institutions channel with the acquisition of sister b/ds CUSO Financial Services and Sorrento Pacific Financial, both based in San Diego. They have a combined $30 billion in assets under administration and 500 advisors at...