Atria Wealth Solutions, with the backing of Lee Equity Partners, is buying Cadaret Grant — an independent broker-dealer with about 900 advisors and some $23 billion in assets under administration that has been in business since 1985.

The news comes about seven months after Atria was formed by three industry veterans as a wealth management solutions holding company that includes CUSO Financial Services and Sorrento Pacific Financial, both of which serve advisors based in credit unions and banks from their headquarters in San Diego. Its operations encompass about 500 institution-based advisors and some $30 billion in client assets.

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