LPL Financial Holdings has entered into a definitive purchase agreement to acquire Atria Wealth Solutions, a wealth management solutions holding company headquartered in New York. Atria supports approximately 2,400 advisors and 150 banks and credit unions, managing approximately $100 billion of brokerage and advisory assets. Established in 2017, Atria operates a network of broker-dealer subsidiaries focused on supporting independent financial advisors and institutions nationwide.
As part of the agreement, Atria will transition its brokerage and advisory assets now with its network of broker-dealers to the LPL platform. The broker-dealers include two with a focus on supporting banks and credit unions — CUSO Financial Services and Sorrento Pacific Financial – and five that support independent financial professionals — Cadaret Grant, NEXT Financial Group, SCF Securities, Western International Securities and Grove Point Financial.
