Atria Wealth Solutions, Inc., a multi-channel wealth management solutions holding company, has acquired Pasadena based Western International Securities, Inc., an independent broker-dealer serving over 400 independent financial advisors. Atria said it successfully closed the acquisition Wednesday.
In a statement, Atria Wealth Solutions said the addition of WIS provides independent advisors more options in how they manage their businesses. With the WIS acquisition, Atria now serves nearly 2,500 advisors with approximately $75 billion of assets under administration across five broker-dealers.
“The acquisition of WIS is another step forward for our firm, our clients and the financial industry at large,” Doug Ketterer, CEO and founding partner of Atria, said. “The intensely rapid and evolving wealth management landscape is forcing firms to rethink their value proposition and offer greater expertise and choice to their clients. Combining WIS’ unique affiliation models and strategic partnerships with Atria’s resources, technology and content creates more choice and an unparalleled experience for all current and future advisors.”
The statement added the acquisition expands the set of affiliation models available to independent advisors to now include a turnkey branch solution, making it easier for them to procure office space, choose critical infrastructure, integrate technology and hire staff.
WIS’ clearing partnerships will also be adding another flexible component to Atria’s solution set for advisors looking to affiliate with a technologically innovative and multi-custodial partner, the statement said.
Don Bizub, WIS CEO, said his team is excited to be working with a group of exceptional wealth management innovators. He is now part of Atria’s executive leadership team.
“Their commitment and focus on elevating the advisor and end-client experience with unique solutions in the wealth management industry completely aligns with our vision and better positions us to serve advisors,” Bizub said.
WIS is the fifth broker-dealer acquired by Atria since 2017.