Atria’s Credit Union-Focused Broker-Dealer Subsidiary CFS Signs Multi-Year Deal To Support Texas Credit Union With Nearly 75,000 Members
CUSO Financial Services (CFS), a broker-dealer subsidiary of Atria Wealth Solutions focused on the credit union wealth management space, announced a multi-year partnership with Beaumont, Texas-based Mobiloil Credit Union, with 12 branches across southeastern Texas serving almost 75,000 members and holding over $1 billion in client assets.
Founded in 1935 as Magnolia Employees Beaumont Texas Federal Credit Union, Mobiloil members will gain access to the Clear1 portal and mobile app, a co-branded member portal and app that connects a member’s credit union and wealth management services, including a single sign-on integration.
John Doucet, President and CEO of Mobiloil, said, “For 26 years, the CFS team has focused on serving credit unions, so they deeply understand our needs as a financial institution and can empower us to serve our members with a truly holistic approach to financial planning.”
“We’re thrilled to welcome Mobiloil to the CFS community and to help drive growth and success for their wealth management program,” said Tami Cain, Executive Director of Business Development at CFS. “Their decision to align with CFS underscores our unique expertise in the credit union vertical and equips them with our comprehensive solutions for its members.”
Gibson Joins Mobiloil
With over 32 years’ experience, financial professional Marioreen “Mario” Gibson joined Mobiloil’s wealth management team. Gibson has worked for CUNA Brokerage Services, UBS and Merrill Lynch.
“I chose Mobiloil Credit Union’s wealth management program for two very specific reasons: their consistent integrity and focus on top-notch service,” said Gibson. “It became clear very quickly that CFS’ values and integrity are aligned with ours, and they are involved every step of the way. The executive team is always available, and they are committed to partnering with us to help our program grow.”
Atria’s subsidiaries include CFS and its sibling in the financial institutions space, Sorrento Pacific Financial, both founded in 1997, which serve over 200 banks and credit unions with over $40 billion in assets under administration (AUA). Atria recently appointed Kevin Mummau and Brian Bichler as Co-Heads of its Financial Institution channel, managing CFS and Sorrento.
Atria’s other subsidiaries include Cadaret Grant, NEXT Financial Group, Western International Securities and SCF Securities, and will soon include Grove Point Financial, which the firm recently recruited from Kestra. With the addition of Grove Point, Atria’s subsidiaries will serve almost 2,700 financial professionals with approximately $115 billion in AUA.
Atria also hired former LPL Financial Divisional President Bill Morrissey late last year.
James Miller, Contributing Editor & Research Analyst at Wealth Solutions Report, can be reached at ContributingEd@wealthsolutionsreport.com
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