Atria Wealth Solutions Inc., a wealth management holding company, has agreed to purchase SCF Securities Inc., an independent broker-dealer and registered investment advisor based in Fresno, California with approximately $4 billion in assets under administration and roughly 150 financial advisors.
Atria will acquire 100 percent of SCF Securities Inc., SCF Investment Advisors Inc., and SCF Marketing Inc. The transaction is expected to close in the first half of 2021.
Randy Meadows, SCF’s president and chief executive officer will remain as president of SCF and continue to operate from its Fresno headquarters.
SCF will become the sixth broker-dealer purchased by Atria since 2017, joining Western International Securities Inc., NEXT Financial Group Inc., Cadaret, Grant & Co. Inc., CUSO Financial Services L.P. and Sorrento Pacific Financial LLC as an Atria subsidiary.
Upon closing, Atria’s subsidiaries will have more than 2,500 financial professionals with nearly $95 billion in assets under administration.