Atria Wealth attracts $350M firm from Osaic's Securities America

Atria Wealth attracts $350M firm from Osaic's Securities America
New affiliate offers employers retirement plans and investments in multiple states.
DEC 12, 2023

Atria Wealth Solutions has added another affiliate to its network via its Cadaret Grant subsidiary.

OPOC is based in Worthington, Ohio, and provides retirement plans and services such as health care and benefits, HR, payroll, and corporate wellness solutions to employers and organizations across the United States. OPOC is an acronym for "One Point of Care."

The firm was previously affiliated with Osaic’s Securities America and manages nearly $350 million in client assets with a team including German "Alex" Cabrera, John Crow, David Lawler, Clark May, and Carl Swanson.

Head of retirement plans and investments, Edward "A.J." Sommer III, said that the decision to switch to Atria and Cadaret was their understanding of the challenges and complexities of clients’ needs.

“It was evident in their approach to technology and how it is used to engage and meet the needs of our clients,” he commented. “They understand each client is different and it is essential to have a robust set of solutions to meet those needs. And most importantly, Atria understands this is a people business — it’s all about people and building real relationships. It’s clear they approach the business in a different way — a way that’s all about true partnership.”

ATRIA GROWTH

Atria Wealth Solutions has a network of almost 2,700 financial professionals managing around $120 billion for clients.

The firm grew substantially at the end of the summer when firms managing $16 billion were acquired by the holding companyy,including Grove Point Financial which added $15 billion in assets under administration and 400 independent financial advisors to the network. It became a wealth management subsidiary of Atria alongside CUSO Financial Services, Sorrento Pacific Financial, Cadaret Grant, NEXT Financial Group, Western International Securities, and SCF Securities.

“OPOC’s decision to join the Atria family is yet another example of the success we are having with financial professionals choosing our firm because they recognize our unique ability to help the most complex, successful businesses thrive,” said Kevin Beard, Atria’s chief growth officer and one of its founding partners.

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave