Petersen Advisors LLC, a Wall, N.J., OSJ led by industry veteran Bert Riley, has affiliated with independent broker-dealer Cadaret, Grant & Co., a wholly owned subsidiary of Atria Wealth Solutions, according to a news release.
Petersen, formerly with Royal Alliance in New York, manages $600 million in client assets.
Riley, Petersen’s chairman and chief executive officer, founded the firm in 1997. He said in a news release that in looking for a wealth management firm, the goal was to find one that provided the tools and practice management guidance necessary to better serve clients.
“We were impressed not only by the accessibility of senior management, but also by the firm’s commitment to aiding our team’s growth,” he said.
Doug Ketterer, CEO and a founding partner of Atria, also commented on Petersen’s affiliation with Cadaret in a news release, and the value each firm brought to the partnership.
“In a rapidly evolving industry, advisors recognize the steps we’ve taken and are continuing to take to position them to lead their practices into the future utilizing our technology, products and support services,” Ketterer said.
Kevin Beard, chief growth officer and a founding partner of Atria, said in an e-mail request for comment that advisors for affiliate firms and prospective affiliate firms have expressed enthusiasm for Atria’s technology and excitement for its integrated and single sign-on platform.
“They feel that we at Atria offer solutions that can make them better advisors and run more efficient businesses,” Beard said.
Eugene Elias, COO and a founding partner of Atria, also responded for comment by e-mail. He said that Atria not only provides proprietary technology that meets the business needs of affiliates and their clients, but also offers the latest cybersecurity solutions and third-party services to regularly monitor the network and core systems.
“Security is a topmost priority for Atria and our subsidiaries,” Elias said. “The most valuable asset we maintain for our advisors is their clients’ data.”