Atria Completes Acquisition of Kestra’s Grove Point Financial | Ali Hibbs

September 5, 2023

The addition of Grove Point brings Atria Wealth Solutions to almost $120 billion in assets across seven subsidiary businesses.


Atria Wealth Solutions, a Lee Equity Partners–backed wealth management holding company launched by former Morgan Stanley executive Doug Ketterer in 2017, has completed its acquisition of Grove Point Financial from Kestra Holdings. Headquartered in Rockland, Md., Grove Point is a hybrid firm with 400 employees and $15 billion in client assets.

Founded in 1984 as H. Beck Inc., Grove Point was acquired by Kestra in 2017 and rebranded in 2021. The deal to acquire 100% of the business and subsidiaries, Grove Point Investments and Grove Point Advisors, brings Atria to almost 2,700 employees and $120 billion in assets across all its companies, including CUSO Financial Services, Sorrento Pacific Financial, Cadaret Grant, NEXT Financial Group, Western International Securities and SCF Securities.

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