With the acquisition of SCF, Atria Wealth is expected to enhance its subsidiaries' focus on growth in fee-based assets under administration
Atria Wealth Solutions, a provider of multi-channel wealth management solutions, has agreed to acquire SCF Securities (SCF), an independent wealth management firm.
Under the terms of the agreement, Atria will also acquire 100% of SCF companies SCF Investment Advisors, and SCF Marketing.
After closing, Atria’s total subsidiaries with more than 2,500 financial professionals will have around $95bn in assets under administration.
Atria’s broker-dealer subsidiaries include CUSO Financial Services, Sorrento Pacific Financial, Cadaret Grant & Co., NEXT Financial Group, and Western International Securities.
With the acquisition of SCF, Atria Wealth is expected to enhance its subsidiaries’ focus on growth in fee-based assets under administration, and extend its multi-custodial strategy and national financial professional footprint.
Atria CEO and founding partner Doug Ketterer said: “SCF is a growth-oriented firm with a very strong advisory business and is well known for providing exceptional, personalized service.
“SCF’s focus on meeting the growing expectations of financial professionals and their clients completely aligns with our vision for reinventing the advisor experience and providing solutions that enhance the advisor and client relationship. We are very excited to welcome SCF and its financial professionals to the Atria family.”
SCF becomes sixth broker-dealer acquired by Atria since 2017
Established in 1992, SCF Securities is an independent wealth management firm serving around 150 independent financial professionals throughout the country.
The company is engaged in providing high-touch service experience and access to complete advisory solutions for its advisors.
Upon closing of the acquisition, SCF president and CEO Randy Meadows will continue in his position and operate from its headquarters in Fresno, California.
Also, SCF becomes the sixth broker-dealer acquired by Atria since 2017, following Western International Securities, NEXT Financial Group, Cadaret, Grant & Co., CUSO Financial Services, and Sorrento Pacific Financial.
The transaction is anticipated to be completed in the first half of 2021, subject to customary closing conditions.
Meadows said: “I am absolutely thrilled for the opportunity to join Atria and the unmatched advantage this partnership brings to SCF advisors.
“For the past 30 years, our entire focus has been to create an environment where advisors could thrive, grow and excel on behalf of their clients. With Atria at our side, our ability to provide our advisors with additional resources, enhanced technology, and an even greater level of support, grows exponentially.”