Atria Wealth Solutions, a wealth management solutions holding company based in New York, has agreed to acquire local independent broker-dealer Cadaret, Grant & Co. for an undisclosed sum.
Syracuse-based Cadaret, Grant has around 900 financial advisers and manages over $23bn in assets.
The deal, which is subject to FINRA nod, also includes the purchase of Cadaret, Grant’s sister firms- Cadaret Grant Agency and Capital Strategy Group.
Cadaret, Grant will continue to be based in Syracuse, while its CEO Art Grant will remain in an advisory role to Atria CEO Doug Ketterer.
Atria said that the combined group will invest resources and capital in client and advisor technologies.
“Having worked closely with Art and his team, it is clear that our cultures, philosophies, and approaches to servicing financial advisers and their clients are fully aligned. We believe it is essential for advisers and their clients to have choice and access to the next generation of solutions that best meet their needs in a specific and personalised way. The joining of our organisations allows us to emphasise the best of both firms, creating a wealth management firm for the future,” Ketterer noted.