Atria Wealth Solutions Buying SCF Securities

"Having a partner like Atria will give them additional capital to grow, as well as benefit from that best features and practices of the other Atria broker- dealers," Henschen explained. "SCF advisors will also benefit from the tech platform that Atria has brought to all their broker-dealers, which greatly simplifies daily business operations for advisors."

Atria's Approach to the Deal

Atria said the acquisition of SCF continues its subsidiaries' focus on growth in fee-based assets under administration, furthers the multi-custodial strategy and expands the national financial professional footprint.

Randy Meadows, SCF's president and chief executive, will remain as the firm's president and continue to operate from the Fresno headquarters.

"SCF is a growth-oriented firm with a very strong advisory business and is well known for providing exceptional, personalized service," according to Douglas Ketterer, Atria's chief executive and founding partner. 

Ketterer said SCF's focus on meeting the growing expectations of financial professionals and their clients aligned with Atria's vision for reinventing the advisor experience and providing solutions that enhance the advisor-client relationship.

"What we have liked about the Atria model has been its similarity to Ladenburg Thalmann, which has multiple midsized broker-dealers that excel in high service with a strong private equity capital partner committed to a long time horizon which has been increasingly rare in our industry," Henschen added.