Atria Wealth Solutions, a New York-based broker-dealer holding company, will acquire Western International Securities, a Pasadena, Calif.-based broker-dealer founded in 1995 that serves more than 400 independent brokers and administers $13 billion in assets.
The transaction, the terms of which were not announced, is expected to close in the first quarter of 2020.
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Western International will be the fifth broker-dealer acquired by Atria since 2017, joining NEXT Financial Group, CUSO Financial Services, Sorrento Pacific Financial and Cadaret Grant as Atria subsidiaries. The acquisition will give Atria close to 2,500 financial advisers with nearly $80 billion of assets under administration.
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