On April 21, 2023, Atria Wealth Solutions announced the acquisition of Grove Point Financial.
Under the terms of the transaction, Atria Wealth Solutions (“Atria”) has acquired 100% of Grove Point Financial, LLC (“Grove Point”) and its subsidiaries. The transaction is expected to close in the second half of 2023, subject to customary closing conditions. Financial terms were not disclosed.
Atria is a wealth management solutions holding company based in New York City that serves financial advisors and institutions. Atria has approximately $100 billion in assets under administration.
Grove Point, based in Rockville, Maryland, is an independent wealth management firm and subsidiary of Kestra Holdings. Grove Point manages $15 billion in client assets.
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