The two original acquisitions brought about 500 advisors and $30 billion in customer assets under the Atria umbrella.

Buying Cadaret almost doubles the size of Atria and plants a flag in the independent wealth management channel, where Ketterer wants to expand.

Cadaret helps build the scale that B-Ds need to compete, Ketterer said. “Advisors are looking not so much for a utility [broker-dealer], but they’re looking for a partner.”

Continue reading