Pasadena-Based Western International Securities Sold to New York Wealth Management Firm

Pasadena-based Western International Securities, with $13 billion in assets and a network of around 400 financial brokers, has been acquired by Atria Wealth Solutions, a New York City-based wealth management holding company.

In a statement, Atria Wealth Solutions said the acquisition represents a strategic move forward in delivering an industry-leading offering in the fast-changing independent wealth management space.

Western International Securities (WIS) serves independent financial advisors in a variety of models, including affiliation through a turnkey branch solution that offers professional office space, integrated technology and dedicated support staff.

In addition, the Pasadena-based broker-dealer has strategic clearing partnerships that should further expand Atria’s solution set for financial advisors.

“We are very excited to announce our agreement to acquire WIS,” Atria CEO and founding partner Doug Ketterer said. “We are seeing a greater number of advisors who want independence, but, at the same time, they don’t want to spend time on the array of decisions that come with this choice like finding an office, selecting technology and hiring support staff. Our new partnership with WIS will allow us to meet this growing demand.”

With various branch operating models across the nation, the WIS acquisition is also expected to advance Atria’s strategic growth plans.

“WIS has always been about providing a differentiated advisor experience,” Don Bizub, CEO of Western International Securities, said. “By partnering with Atria, we’re able to take full advantage of their advanced technology, robust product partner lineup and vast operational support network to greatly accelerate the evolution of our offering much faster than we could ever do on our own. Because our industry is changing so rapidly, I’m thrilled to be partnering with such an innovative team who can move quickly, unencumbered by legacy platforms.”

WIS will be the fifth broker-dealer acquired by Atria since 2017 and joins NEXT Financial Group, Inc.; Cadaret, Grant and Co., Inc.; CUSO Financial Services, L.P.; and Sorrento Pacific Financial, LLC as an Atria subsidiary.

The transaction is expected to close in the first quarter of 2020 and is subject to customary closing conditions, including regulatory clearances.

Established in 1995, Western International Securities, Inc. has its headquarters at 70 S. Lake Avenue in Pasadena, and maintains offices nationwide. The firm supports financial advisors in delivering comprehensive securities and investment advisory services to their clients.

For more information about WIS, visit www.wisdirect.com.

To learn more about Atria Wealth Solutions, visit www.atriawealth.com.