Atria’s Experience in Wirehouse Sector Brings Success in Recruiting Breakaway Teams Seeking Independence
Atria Wealth Solutions’ Cadaret Grant recently announced the successful recruitment of a team of UBS professionals led by industry veterans Anthony Mona and Joseph Mansoor. Mona and Mansoor bring over $600 million in client assets as they join the Michigan-based OSJ Spartan Wealth Management. With the addition of the UBS team, this group represents $1.2 billion in assets under administration (AUA).
“The onboarding and launch of Anthony Mona and Joseph Mansoor’s independent wealth management business from UBS truly reflect where our industry is going and why we founded Atria,” said Doug Ketterer, Atria’s CEO and Founding Partner.
“Our executive team has decades of experience working extensively in the wirehouse segment, so we know how to meet the needs of these financial professionals when transitioning to independence and the ongoing support they demand for themselves and their clients.”
The team chose to merge with an existing OSJ “because the partnership provides them with a perfect and seamless transition, the immediate benefits of both independence and scale, and the synergy and collaboration to build a boutique powerhouse practice in the Midwest,” explained Ketterer in an interview with Wealth Solutions Report.
Before co-founding Atria, Ketterer led Morgan Stanley’s U.S. financial professional and branch office network and the firm’s ultra-high-net-worth focused Private Wealth Management business.
According to Ketterer, independence provides an objective benefit to both the advisor and the client, which is particularly important during market instability.
“When uncertainty presents itself…research is critically important. In the wirehouse segment, firms largely provide financial professionals with proprietary research. In the independent space, financial professionals have access to an abundance of objective research from multiple sources, empowering them to deliver more comprehensive advice to their clients,” he explained.
Mona said, “Having spent decades as an advisor at leading wirehouse firms, it became clear that independence was a better path for our business and our clients. The technology, service and support structure, and management team at Atria made Cadaret Grant the clear choice…as we searched for a premium wealth management experience.”
This announcement comes on the heels of Cadaret Grant’s successful recruitment Spokane, Washington-based Forster Financial in July and the addition of two industry veteran recruiters in June.
Julius Buchanan, Managing Editor at Wealth Solutions Report, can be reached at jbuchanan@wealthsolutionsreport.com
