LPL Financial to Buy $100B Atria Wealth Solutions

LPL Financial Holdings has agreed to acquire Atria Wealth Solutions, a NY-based wealth management solutions holding company.

Atria supports approximately 2,400 advisors and 150 banks and credit unions, managing about $100 billion of brokerage and advisory assets. As part of the agreement, Atria will transition its brokerage and advisory assets currently custodied 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.

“We look forward to welcoming their advisors and institutions to the LPL family, and to helping them optimize their success by providing the capabilities, technology and services to differentiate and win in the marketplace and run thriving businesses,” said Dan Arnold, LPL Financial president and CEO.

The transaction is expected to close in the second half of 2024.