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New Deal


Announced

Completed

Atria Wealth Solutions completed the acquisition of Grove Point Financial from Kestra Financial.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Asset Managers and Custodians

Domestic

wealth management

Single Bidder

Majority

Private

Friendly

United States

registered investment adviser

Acquisition

Completed

Synopsis

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Atria Wealth Solutions, a multi-channel wealth management holding company, completed the acquisition of Grove Point Financial, an independent wealth management firm, from Kestra Financial, a wealth management platform. Financial terms were not disclosed. "We are thrilled to join forces with Grove Point's financial professionals, talented executive team and employees. This is the most exciting time in our industry's history and one that is creating the opportunities of a lifetime for all of us. Our combined organization will make us stronger as we continue to support and meet the ever-growing demands of financial professionals and their clients. What is of critical importance in any partnership is fit – both cultural and strategic. This is very much true of our new relationship with Grove Point – the cultures, priorities and philosophies of our firms could not be more aligned, and our ability to grow and deliver a differentiated experience has never been more certain," Doug Ketterer, Atria CEO and Founding Partner.

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