Atria Wealth Solutions, a wealth management holding company, has closed the acquisition of Cadaret, Grant & Co. Inc. The terms were not disclosed.
Founded in 1985, Cadaret Grant is a privately-owned independent broker-dealer, servicing approximately 900 financial advisors and with more than $23 billion in assets under administration. Atria acquired 100 percent of Cadaret Grant, as well as its 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.”
Atria said that it will be investing “significant capital and resources” in its subsidiaries, which now include CUSO Financial Services L.P., Sorrento Pacific Financial L.P., and Cadaret Grant. Investments include client and advisor technologies, enhanced product offerings, and streamlined services that will be rolled out in phases across the subsidiaries, the company said.
Atria Wealth Solutions’ three subsidiaries support more than 1500 financial advisors with more than $50 billion of assets under administration.