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Atria Wealth Solutions Adds Head of Practice Management

 

NEW YORK – February 7, 2019 – Atria Wealth Solutions, Inc. (Atria), a multi-channel wealth management solutions holding company, announced today that it has hired Brian Nelson as Head of Practice Management at Cadaret, Grant (an Atria subsidiary company).

Nelson is charged with designing, developing and implementing the newly-established practice management division at Cadaret, Grant. This new division will focus on providing advisors with the tools and resources to support their growth and optimize their practices.

“In today’s environment, it is essential that we bring the totality of wealth management services to our advisors in order to help position them as competitively as possible,” said Doug Ketterer, Cadaret, Grant’s CEO and founding partner of Atria. “It is not just about technology, a product, a process, marketing, etc. It is how all of the pieces fit together in a way that makes sense to the individual advisor and allows them to engage and utilize all of these services to their fullest potential. We are laser-focused on this approach and are extremely excited to have Brian lead this effort for us.”

Nelson has over 20 years of experience coaching hundreds of financial advisors and teams, and helping them build, grow, and transition successful practices in an increasingly complex business environment.

Nelson founded Pratica Consulting, an independent, third-party consulting firm that specialized in advisor practice management, strategic consulting, and sales strategy. He previously held executive leadership roles at Advisor Group, Fidelity Investments, and Pioneer Investments.

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About Atria Wealth Solutions, Inc. 

Atria Wealth Solutions, Inc. (Atria) is a wealth management solutions holding company focused on delivering a clear path to the future of financial advice for advisors and their clients. Headquartered in New York City, Atria’s subsidiaries empower financial institutions and independent advisors with a sophisticated set of tools, services, and capabilities that drive growth. Atria’s subsidiaries include Cadaret, Grant & Co., Inc., CUSO Financial Services, L.P., and Sorrento Pacific Financial, LLC, which together support over 1,400 financial advisors with more than $50B of assets under administration. For more information, please visit www.atriawealth.com.

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Kathleen Hopkins

FiComm Partners

Kathleen.hopkins@ficommpartners.com

 
 

For media inquiries, please contact:

FiComm Partners

Kirsten Plonner
908-247-1939
Kirsten.plonner@ficommpartners.com

 

Atria Wealth Solutions Acquires Independent Wealth Management Firm NEXT Financial Group, Inc.

Atria subsidiaries will serve nearly 2,000 advisors and AUA to top $65 billion after deal closes

New York, NY and Houston, TX – January 08, 2019 – Atria Wealth Solutions, Inc. (Atria), a wealth management solutions company with subsidiaries that serve independent financial advisors and financial institutions, today announced that it entered into an agreement to acquire NEXT Financial Group, Inc. (NEXT), an award-winning independent wealth management firm based in Houston, TX which serves over 500 independent advisors with approximately $13 billion in assets under administration (AUA).

Atria will acquire 100% of NEXT and 100% of NEXT’s sister companies Next Financial Insurance Services Company and Visionary Asset Management, Inc. After the close of the transaction, Atria, through its subsidiaries, will serve nearly 2,000 advisors with approximately $65 billion AUA.

“As Atria continues to build and grow within the independent advisor channel, we identified NEXT as a perfect partner in our mission to reinvent the entirety of the independent wealth advisor service model,” said Doug Ketterer, CEO and Founding Partner of Atria. “In our intense effort to provide advisors with the most competitive set of capabilities that will enable them to stay ahead of the rapidly evolving industry and shifting client demands, we need the right partners to join us on this journey. NEXT is the ideal partner to join us in this industry transformation. We are very excited to welcome NEXT and its advisors to the Atria family.”

Atria will continue investing significant capital and resources in technology, product solutions, services and support to ensure advisors’ and clients’ demands are being met and exceeded. Some of these new capabilities will include advisor/client collaborative technologies, an optimized advisor portal, upgraded client-facing capabilities and streamlined business processes and analytics.

Barry G. Knight will remain the President of NEXT and will be an integral member of Atria’s executive leadership team. “It has taken us a long time to find a partner who embodies our values as an organization and shares our passion to offer advisors a clear path to growth,” said Knight. “The advisor and client experience platforms Atria is introducing will revolutionize the independent channel. Atria has created a model for advisors who are building a business to thrive into the future. I’m thrilled for the next phase of our growth with Atria powering a new breed of solutions.”

NEXT will be the fourth broker-dealer acquired by Atria since 2017. Currently, Atria serves the investment programs of credit unions and banks through its subsidiaries, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), and serves independent financial advisors through SPF and Cadaret, Grant & Co., a long-standing leader among independent broker-dealers.

The transaction is expected to close during the first quarter of calendar year 2019 and is subject to customary closing conditions, including regulatory clearances.

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About Atria Wealth Solutions, Inc. 

Atria Wealth Solutions, Inc. (Atria) is a wealth management solutions holding company focused on delivering a clear path to the future of financial advice for advisors and their clients. Headquartered in New York City, Atria’s subsidiaries empower financial institutions and independent advisors with a sophisticated set of tools, services, and capabilities that drive growth. Atria’s subsidiaries include Cadaret, Grant & Co., Inc., CUSO Financial Services, L.P., and Sorrento Pacific Financial, LLC, which together support over 1,400 financial advisors with more than $50B of assets under administration. For more information, please visit www.atriawealth.com

About NEXT Financial, Inc. 

NEXT Financial Group, Inc. is an independent broker-dealer servicing over 500 independent financial advisors throughout the country. An 8-time Broker Dealer of the Year Award recipient from Investment Advisor Magazine, NEXT also received WealthManagement.com’s best-in-class Service Award in 2016 and the Industry Award for Transition Support in 2017. The firm continues to build upon its unique culture to better serve the needs of independent financial advisors and their clients. 

 

For media queries, please contact:

Kirsten Plonner

908-247-1939

Kirsten.plonner@ficommpartners.com

 
 

NEW YORK – December 20, 2018 – Atria Wealth Solutions, Inc. (Atria), a modern wealth management solutions holding company, announced today two key additions to its executive management team – John Picone as Head of Investment Solutions and Sean Meighan as Head of Advisory Services.

As Head of Investment Solutions, Picone will oversee the investment product menu and selection process as well as product sponsor relationships enterprise-wide. His vast knowledge across a wide spectrum of investment products, coupled with his team of product specialists, will support the advisors and programs of Atria’s subsidiaries in their efforts to deliver superior and suitable investment solutions to their clients. Prior to joining Atria, Picone was a Managing Director at Morgan Stanley and served in the United States Marine Corps.

As Head of Advisory Services, Meighan will manage the advisory services platform across Atria’s subsidiaries – working closely with advisors and cultivating opportunities and solutions with strategic partners to enhance and complement existing managed account offerings. Previously, Meighan served as Vice President, Advisory Sales, Consulting and Platform Development, at Lincoln Financial Network (LFN), including its subsidiary broker-dealers, where he oversaw sales and strategic planning for LFN’s wealth management initiatives.

“Providing outstanding products and solutions to advisors and financial institutions to extend to their clients is paramount in the wealth management industry. We are steadfast in presenting a variety of comprehensive product and relationship options to serve investment clients from every perspective,” said Doug Ketterer, Atria’s CEO and Founding Partner. “John and Sean will work closely together to assist advisors in growing assets, expanding practice expertise, and adding demonstrable value to their portfolio of offerings. This is an exciting time at Atria and they are excellent additions to our management team.”

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About Atria Wealth Solutions, Inc.

Atria Wealth Solutions, Inc. (Atria) is a wealth management solutions holding company focused on delivering a clear path to the future of financial advice for advisors and their clients. Headquartered in New York City, Atria’s subsidiaries empower financial institutions and independent advisors with a sophisticated set of tools, services, and capabilities that drive growth. Atria’s subsidiaries include Cadaret, Grant & Co., Inc., CUSO Financial Services, L.P., and Sorrento Pacific Financial, LLC, which together support over 1,400 financial advisors with more than $50B of assets under administration. For more information, please visit www.atriawealth.com

 
 
 

NEW YORK – December 13, 2018 – Atria Wealth Solutions, Inc. (Atria), a modern wealth management solutions holding company, today announced two key additions to its management team - Robert Holcomb as Chief Marketing Officer and Kaitlin Connor as Head of Digital Solutions.

“As we enter an important growth phase of our firm, the story of how we’re doing things very differently from others in our industry and the value behind our ideas needs to be told. At the same time, our rollout timeline for digital technology is ambitious and we are at a pivotal juncture to drive the industry forward. Bob and Kate are critical and welcome additions to our team,” said Eugene Elias, COO and Founding Partner of Atria Wealth Solutions.

In the role of Chief Marketing Officer, Holcomb will be responsible for brand strategy, public web properties, corporate communications, public relations initiatives, and event planning across Atria and its subsidiaries. In addition, he will also oversee creative direction, corporate messaging, recruiting marketing efforts, and advisor marketing strategies.

“Our focus is on delivering an extraordinary experience to advisors and their clients. Bob is the right person to tell our story and explain how we are unique in the current broker/dealer landscape — and do so in an impactful way,” Elias said.

Holcomb has over 20 years of experience in the financial services industry, primarily in leadership roles. In 2004, he founded Greenbook Financial Services, a marketing system and planning methodology for advisors. He also served as President of First Allied Wealth Management, where his responsibilities included asset management, insurance, retirement services, strategy and marketing.

As Head of Digital Solutions, Connor will be responsible for launching and managing new digital programs for advisors. Connor has extensive experience in digital product management and development, specifically in the financial services sector. Her expertise in product conception and consumer trends will benefit Atria’s subsidiaries through the development of sophisticated digital tools that are optimized for business development.

“I am passionate about an approach to product development that is user-focused, iterative, and innovative. I’m thrilled to join Atria’s growing technology leadership team and look forward to creating an unmatched experience for advisors that is superior from a user experience perspective,” Connor said.

Before joining Atria, Connor was Senior Product Manager, The Customer Office, for Prudential Financial, Inc. In this role, she focused on ideation, strategy and long-term product blueprints for Prudential’s digital brokerage and robo-advisory platform.

 

Atria Announces New Madison Avenue Headquarters

NEW YORK, NY–December 06, 2018–Atria Wealth Solutions, Inc. (Atria), a wealth management solutions holding company, announced today it has moved its new headquarters to midtown Manhattan. The 295 Madison Avenue location accommodates Atria’s current and future hiring plans and is designed to attract top talent inside and outside the industry with an open and dynamic work environment.


“Our new headquarters provides an open, transparent environment where ideas flow freely,” explained Atria’s CEO Doug Ketterer. “This design embodies our philosophy about the future of the wealth management business – one that is efficient, responsive and supportive. We recognize the revolution taking place, and at the same time, understand and appreciate the history of this industry. As Atria continues to design and deliver differentiated advisor and client-centric solutions and support, we now have the space to execute our vision and drive the industry forward, while best supporting our subsidiaries as they serve their existing and future clients.”

About Atria Wealth Solutions, Inc. 

Atria Wealth Solutions, Inc. (Atria) is a wealth management solutions holding company focused on delivering a clear path to the future of financial advice for advisors and their clients. Headquartered in New York City, Atria’s subsidiaries empower financial institutions and independent advisors with a sophisticated set of tools, services, and capabilities that drive growth. Atria’s subsidiaries include Cadaret, Grant & Co., Inc., CUSO Financial Services, L.P., and Sorrento Pacific Financial, LLC, which support over 1,400 financial advisors with more than $50B of assets under administration. For more information, please visit www.atriawealth.com

Cadaret, Grant Expands Wealth Management Platform - Launches Lending Solutions

SYRACUSE, N.Y.–November 20, 2018–Cadaret, Grant & Co., Inc., a subsidiary of Atria Wealth Solutions, announced today that it is launching a jumbo mortgage loan and lending solution program for advisors and their clients through a strategic partnership with BNY Mellon. These advanced lending capabilities will provide Cadaret, Grant advisors with the ability to structure personalized lending solutions to meet the ongoing needs of their high net worth clients and become a key component in delivering comprehensive financial solutions.

“This most recent addition to the Cadaret, Grant product platform signifies our aggressive advances in supporting advisors with solutions they need to best serve their clients,” said Doug Ketterer, CEO and President of Cadaret, Grant, and CEO and Co-founder of Atria Wealth Solutions. “Our mission is to partner with financial advisors to determine how we can best support them in their practices, and deliver the needed capabilities as quickly and efficiently as possible. A suite of lending capabilities is just one example.”

Cadaret, Grant’s growing advisor base will now have the ability to offer jumbo mortgage and lending solutions to meet the specific needs of their high net worth clients. These solutions provide flexible access to funds for financial opportunities, unexpected life events or strategic financial positioning.

“We are proud to have partnered with BNY Mellon, the nation’s oldest, and one of the most respected, private banks, to help our advisors expand the breadth and depth of their client relationships,” said John Picone, Atria’s Head of Investment Solutions. “It’s another step in our continued strategy to reinforce Cadaret, Grant’s unparalleled commitment to providing advisors with high quality differentiated solutions.”

About Cadaret, Grant & Co., Inc.

Cadaret, Grant, an independent broker/dealer headquartered in Syracuse, New York, is a wholly-owned subsidiary of Atria Wealth Solutions and supports more than 800 financial advisors in 459 branch offices nationwide. Founded in 1985, the company provides superior service, advanced technology, effective marketing tools, and a supportive business environment for financial advisors. For more information about Cadaret, Grant, please visit www.cadaretgrant.com.

About Atria Wealth Solutions

Atria Wealth Solutions (Atria) is a wealth management solutions holding company focused on elevating the end-to-end experience for financial advisors and their clients. Headquartered in New York City, Atria’s core mission is to empower financial advisors with a next-generation set of tools, services and capabilities that drive growth in today’s rapidly changing wealth management environment. Atria, through its subsidiaries, supports over 1400 financial advisors with more than $50b of assets under administration. For more information, please visit www.atriawealth.com.

 

Atria Wealth Solutions Closes Acquisition of Cadaret, Grant & Co., Inc. 

NEW YORK and SYRACUSE–October 4, 2018 – Atria Wealth Solutions (Atria), a wealth management solutions holding company, today announced that it has closed the acquisition of Cadaret, Grant & Co., Inc.(Cadaret, Grant). Founded in 1985, Cadaret, Grant is one of the largest privately-owned independent broker/dealers in the country, servicing approximately 900 financial advisors and with more than $23 billion in assets under administration. Atria will acquire 100% of Cadaret, Grant and 100% of Cadaret, Grant’s sister companies, Cadaret Grant Agency Inc. and Capital Strategy Group Ltd.

“Acquiring Cadaret, Grant completes a critical stage in the execution of Atria’s strategy to be the premier service provider to independent financial advisors and financial institutions,” said Doug Ketterer, CEO of Atria. “We are building a unique multi-channel business that focuses and caters to the specific needs of independent advisors, credit unions and banks. Building on Cadaret, Grant’s long history and unparalleled service model, Atria’s subsidiaries are now fully positioned to provide independent advisors with the most competitive set of tools and solutions that meet their ongoing demands in today’s rapidly changing wealth management environment.”

Atria will be investing significant capital and resources in its subsidiaries to create a new and elevated experience for financial advisors. Investments will focus on client and advisor technologies, enhanced product offerings and streamlined services that will be rolled out in phases across its subsidiaries CUSO Financial Services, L.P., Sorrento Pacific Financial, L.P. and Cadaret, Grant.

About Atria Wealth Solutions 

Atria Wealth Solutions (Atria) is a wealth management solutions holding company focused on elevating the end-to-end experience for financial advisors and their clients. Headquartered in New York City, Atria’s core mission is to empower financial advisors with a next-generation set of tools, services and capabilities that drive growth in today’s rapidly changing wealth management environment. Cadaret, Grant & Co., Inc., CUSO Financial Services, L.P. and Sorrento Pacific Financial, L.P. are fully owned subsidiaries of Atria, which supports over 1500 financial advisors with more than $50b of assets under administration. For more information, please visit www.atriawealth.com

About Cadaret, Grant & Co., Inc. 

Cadaret, Grant is a broker/dealer headquartered in Syracuse, New York servicing approximately 900 financial advisors in 475 branch offices nationwide. Founded in 1985, Cadaret, Grant provides superior service, advanced technology, effective marketing tools, and a supportive business environment for financial advisors. For more information about Cadaret, Grant, visit www.cadaretgrant.com





Atria Wealth Solutions Appoints John Reinhardt as Chief Technology Officer

NEW YORK – Aug. 23, 2018 – Atria Wealth Solutions, a modern wealth management solutions holding company, today announced it has hired John Reinhardt as Chief Technology Officer. He will be responsible for managing the evolution of Atria’s technology platform as the firm continues to enhance and build new technology capabilities to better serve advisors and their clients. 

Reinhardt has more than 20 years of experience serving in technology management roles in financial services. His deep understanding of wealth management technology coupled with execution expertise, will help ensure Atria’s subsidiaries offer the most competitive and efficient platform in the industry.

“Today, any company, regardless of industry, is required to be a technology company. Those which fail to prioritize technology are essentially not competing,” said Reinhardt. “I am excited to join a firm that leads and invests in technology to drive one of the most powerful offerings in the industry. Atria recognizes the rapid change taking place in wealth management due to evolving demographics, changing expectations and one of the greatest transfers of wealth in our history, and is committed to providing advisors with capabilities that empower them and grow their businesses.”

“The addition of John to the Atria executive team demonstrates our dedication to investing in the superior talent and resources that will propel us forward,” said Eugene Elias, COO and Founding Partner of Atria Wealth Solutions. “We view technology as a sophisticated mechanism to provide advisors and clients with outstanding service. With that in mind, we are fiercely committed to building the best platform, and therefore providing the best service, in the marketplace for both advisors and financial institutions.”

Prior to joining Atria, Reinhardt served as Director of Information Systems at Stifel Financial (NYSE: SF). In this role, he was responsible for implementing organizational procedures and overseeing the department which encompassed application development, testing, project portfolio delivery and production support for the entire firm. Prior to Stifel Financial, Reinhardt held senior technology roles at Barclays Wealth America, Lehman Brothers and Neuberger Berman.

In addition to Reinhardt, Atria recently announced three senior-level hires; Matthew Bassuk joined as National Director of Recruiting for the Independent Advisor Channel, Brian Bichler as Head of Platform Experience, and Travis Grimm as Head of Program Management.




Atria Wealth Solutions Expands Management Team

NEW YORK--(BUSINESS WIRE)--Atria Wealth Solutions, a modern wealth management solutions holding company, today announced it has made several strategic hires to continue its rapid growth, appointing Matthew Bassuk as National Director of Recruiting, Brian Bichler as Head of Platform Experience and Travis Grimm as Head of Program Management. The announcement follows Atria’s acquisition of two broker-dealers, CUSO Financial Services, L.P. (“CFS”) and Sorrento Pacific Financial, LLC (“SPF”), and Atria’s agreement to acquire a third broker-dealer, Cadaret, Grant & Co., Inc., which will solidify the firm’s national presence and multi-channel (independent advisors and financial institutions) offering.

The expansion of Atria’s leadership team illustrates its commitment to build a differentiated and industry-leading partnership for advisors, financial institutions and their clients/members.

“I’m proud to say that today Atria is one of the most competitive and powerful offerings in the wealth management industry,” said Doug Ketterer, CEO and Founding Partner of Atria Wealth Solutions. “Advisors and financial institutions are attracted to our deep wealth management experience, personalized approach, commitment to choice, and the sophisticated solutions we provide that are typically reserved for large scale organizations. We are excited to have added Matthew, Travis and Brian to the team. Their vast industry experience, deep-seated relationships and shared vision for the future will help our subsidiaries serve their clients well and continue their growth trajectory.”

Prior to joining Atria, Matthew Bassuk was the Senior Vice President and Head of Recruiting at Cetera Financial Group. In his role at Atria, Bassuk will be responsible for attracting and recruiting passionate, high quality advisors to Atria’s subsidiary companies.

Brian Bichler joins the team as Head of Platform Experience. Bichler will oversee the design and delivery of an integrated and optimized user experience, across channels and through each stage of the financial advisor practice lifecycle. Travis Grimm joins as Head of Program Management where he will lead program management, business analysis and project execution.

Today’s announcement builds upon the momentum Atria has generated over the past year including its recent multimillion dollar investment in its award-winning dataVISION® financial advisor and client/member platform.

About Atria Wealth Solutions

Atria Wealth Solutions (Atria) is a modern wealth management solutions holding company designed specifically for today’s advisors and their clients. Headquartered in New York City, Atria’s core mission is to empower its subsidiaries’ financial advisors with a next generation set of tools, services and capabilities that support their growth and enable them to prosper in a digitally connected and constantly evolving financial environment. Atria’s subsidiaries include FINRA member broker-dealer and registered investment advisor firms CUSO Financial Services, L.P. and Sorrento Pacific Financial, LLC. For more information, please visit www.atriawealth.com.

 

 














Atria Wealth Solutions Acquires Cadaret, Grant & Co. Inc.

NEW YORK and SYRACUSE – April 19, 2018 – Atria Wealth Solutions (Atria), a New York-based modern wealth management solutions holding company, has agreed to acquire Syracuse-based independent broker-dealer Cadaret, Grant & Co. Inc. (Cadaret, Grant). Founded in 1985, Cadaret, Grant is one of the largest privately owned independent broker-dealers in the country, servicing approximately 900 financial advisors and with more than $23 billion in assets under administration. Atria will acquire 100% of Cadaret, Grant and 100% of Cadaret, Grant’s sister companies, Cadaret Grant Agency Inc. and Capital Strategy Group, Ltd., pursuant to a definitive stock purchase agreement.

Atria’s acquisition of Cadaret, Grant will build upon the firm’s three decades of industry leadership, expertise and service to deliver one of the most competitive and powerful offerings in the independent wealth management industry. The newly combined organization, which includes Atria subsidiaries, CUSO Financial Services, L.P. and Sorrento Pacific Financial, L.P., will invest resources and capital in client and advisor technologies, products and services to meet the growing demands of both advisors and their clients.

“Cadaret, Grant has been a long-standing leader among independent broker-dealers and bringing it into the Atria family is an incredible opportunity,” says Doug Ketterer, CEO of Atria. “Having worked closely with Art and his team, it is clear that our cultures, philosophies, and approaches to servicing financial advisors and their clients are fully aligned. We believe it is essential for advisors and their clients to have choice and access to the next generation of solutions that best meet their needs in a specific and personalized way. The joining of our organizations allows us to emphasize the best of both firms, creating a wealth management firm for the future.”

“Our shared vision will provide advisors with future growth opportunities while simultaneously protecting the high standards we have adhered to over the past 30 years,” said Art Grant, CEO of Cadaret, Grant. “We have always put the needs of our advisors and home office team first, and with Atria enhancing and improving our offering, I am very excited about the future for our advisors and the firm.” As part of the transaction, Mr. Grant will remain with the company in an advisory role to Mr. Ketterer.

Cadaret, Grant will remain headquartered in Syracuse, NY. The transaction is subject to FINRA approval.

Broadhaven Capital Partners, LLC acted as exclusive financial advisor to Atria Wealth Solutions.  Berkshire Capital acted as exclusive financial advisor to Cadaret, Grant & Co.

 

About Atria Wealth Solutions  

 Atria Wealth Solutions (Atria) is a modern wealth management solutions holding company designed specifically for today’s advisors and their clients. Headquartered in New York City, Atria’s core mission is to empower its subsidiaries’ financial advisors with a next generation set of tools, services and capabilities that support their growth and enable them to prosper in a digitally connected and constantly evolving financial environment. Atria’s subsidiaries include CUSO Financial Services, L.P. and Sorrento Pacific Financial, L.P. For more information, please visit www.atriawealth.com.

 About Cadaret, Grant & Co., Inc.

 Cadaret, Grant is a broker-dealer headquartered in Syracuse, New York and supports more than 900 financial advisors in 475 branch offices nationwide. Founded in 1985, the company provides superior service, advanced technology, effective marketing tools, and a supportive business environment for financial advisors. In 2015, Cadaret, Grant celebrated its 30-year anniversary. For more information about Cadaret, Grant, visit www.cadaretgrant.com.

 

Media Contact:

Atria Wealth Solutions
Robert Holcomb
(858) 530-4493
bob.holcomb@atriawealth.com








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Atria Wealth Solutions Launches; Acquires CUSO Financial Services and Sorrento Pacific Financial

Atria to Create a Differentiated, Modern Experience for Financial Advisors and Their Clients

CUSO Financial Services/Sorrento Pacific Financial to Position Atria for Future Growth

 

NEW YORK and SAN DIEGO – August 2, 2017 – CUSO Financial Services, L.P. (CFS) and its sister company, Sorrento Pacific Financial (SPF), have entered into an agreement to be acquired by New York-based Atria Wealth Solutions (Atria). Atria, a newly formed modern wealth management solutions holding company, was founded by three seasoned wealth management executives - Doug Ketterer, former Head of Field Management at Morgan Stanley, Eugene Elias, former Head of Client and Advisor Platforms at Morgan Stanley, and Kevin Beard, former Head of Acquisition and Recruiting Strategy at AIG Advisor Group. As part of the agreement, Atria will be buying out the equity interests of CFS, while co-founders Valorie Seyfert and Amy Beattie will obtain an equity interest in Atria, and will continue to lead CFS/SPF. Atria is backed by Lee Equity Partners, a growth-focused middle market private equity firm.  

“Atria Wealth Solutions was founded to create a new and differentiated experience for its subsidiaries’ advisors and their clients. There are transformational events occurring in the wealth management industry today and we believe it is essential for advisors and their clients to have access to and be supported by the next generation of solutions,” said Doug Ketterer, who will serve as CEO of Atria. “CFS and SPF are an ideal partner for Atria and bring innovative technology, a strong management team and staff, and two decades of successfully supporting financial advisors, credit unions and banks.”

A common vision was a key driver of the deal. “We’re excited to have found a partner with such a dynamic and aligned vision for the future of wealth management,” said CFS CEO Valorie Seyfert.  “Our industry is changing so rapidly that to find a partner with a shared vision who can also bring the expertise, agility and resources to bring that vision to life will not only benefit our financial institution clients, but more importantly, will help our advisors to work on behalf of and improve their clients’ lives as well.”

That future, according to Ketterer, includes significant investments in core areas of the business such as: technology, support services, process efficiencies and practice management. 

“Our investments will focus on ways to strengthen and deepen the relationship between financial advisors and their clients, relieving advisors and their staff from administrative burdens and enabling them to use data analytics to drive growth. The combined management team of Atria and CFS, along with the financial backing and support of Lee Equity Partners, will create a unique and innovative wealth management model.”

CFS/SPF will continue to be headquartered and operate from San Diego. The transaction is subject to FINRA approval and expected to close within 60-90 days. 

About Atria Wealth Solutions

Atria Wealth Solutions (Atria) is a modern wealth management solutions holding company founded in 2017 by three seasoned wealth management executives, Doug Ketterer, Eugene Elias and Kevin Beard, backed by Lee Equity Partners and designed specifically for today’s advisors and their clients. Headquartered in New York City, Atria’s core mission is to empower its subsidiaries’ financial advisors with a next generation set of tools, services and capabilities that support their growth and enable them to prosper in a digitally connected and constantly evolving financial environment. For more information, please visit www.atriawealth.com.

About CUSO Financial Services, LP and Sorrento Pacific Financial LLC

Established in 1997, full-service, sister broker dealers CUSO Financial Services, L.P. and Sorrento Pacific Financial LLC (Members FINRA/SIPC) provide customized investment and insurance solutions to over 200 financial institutions throughout the country, with over $30 billion in AUA. Headquartered in San Diego, with branch offices nationwide, both broker dealers are SEC Registered Investment Advisers, with expertise in key areas including retirement services, wealth management, advisory solutions and insurance products for both individuals and business customers.  For more information, see www.cusonet.com or visit their LinkedIn pages: CFS and SPF.

About Lee Equity Partners, LLC

Lee Equity Partners is a New York–based private equity firm that partners with successful management teams to build companies with strong growth potential. Lee Equity targets equity investments of $50 to $100 million in middle market control buyouts and growth capital financings in companies with enterprise values of $100 million to $500 million that are located primarily in the United States. The firm invests in a range of industries where the team has deep relationships developed over decades, including financial, healthcare and business services, consumer, media, and specialty industrial/specialty distribution. Lee Equity’s current and former financial services investments include Captive Resources, LLC, The Edelman Financial Group, Inc., Independent Bank Group, Inc., Midcap Financial, LLC, Skopos Financial, LLC, and WealthTrust, LLC. For more information, please visit www.LeeEquity.com.

 

Media Contacts:

Atria Wealth Solutions
Robert Holcomb
(858) 530-4493
bob.holcomb@atriawealth.com