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$2B AUM Cedar Brook Group Leaves Advisor Group for Atria

The move is the largest so far for the four-year-old Atria Wealth Solutions, a network of advisory firms backed by Lee Equity Partners.

Cadaret Grant, an independent wealth management firm and subsidiary of Atria Wealth Solutions, has recruited $2 billion AUM advisory team Cedar Brook Group. Cedar Brook Group was previously an office of supervisory jurisdiction for independent broker/dealer Securities America, a subsidiary of Advisor Group.

The 16-year-old OSJ carries $2 billion in assets under management and brings 49 people to Cadaret Grant. Twenty are licensed financial professionals. Cedar Brook is headed by CEO and founder William Glubiak and located in Cleveland and Strongsville, Ohio, and West Bloomfield, Mich.

Cedar Brook Group CEO William Glubiak

Cedar Brook Group CEO William Glubiak

By joining Cadaret Grant, Cedar Brook hopes to grow its AUM to $5 billion through acquisitions and advisor recruitment within the next five years.

Cedar Brook is Atria’s largest recruitment so far and boosts the relatively young company’s reputation, said Kevin Beard, chief growth officer.

“Having a big team like this shows that we are in the spotlight as far [as] teams like this recognizing Atria and Cadaret,” Beard said.

Atria, which launched in 2017 and is backed by private equity investor Lee Equity Partners, oversees five other broker/dealers, including Western International SecuritiesNEXT Financial Group, CUSO Financial Services, Sorrento Pacific Financial and the soon-to-be acquired SCF Securities. In January, Atria announced it agreed to acquire SCF, adding $4 billion in AUM and 150 professionals. 

Atria sits at $95 billion in AUM across 200 financial institutions and 2,500 financial professionals.

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