A slew of top executives at Atria Wealth Solutions have departed the firm, as LPL Financial continues to integrate the business in the wake of its acquisition. That includes several senior marketing executives, as well as employees in investment solutions, practice management and product strategy.
In recent months, LPL has been pruning Atria’s executive ranks via layoffs, according to published reports. An LPL spokeswoman would not comment on whether these specific departures were part of that. The firm filed Worker Adjustment & Retraining Notification, or WARN, notices in May outlining layoffs in California, Texas and New York.
“While the WARN notices provide employees 60-90 days’ advance notice prior to the end of their employment, LPL and Atria have openly shared a detailed employee roadmap outlining transition phases and dates,” a spokeswoman said in a statement. “Over the past 18 months, LPL has partnered with Atria to transition over 250 employees into roles at LPL that match their experience and career aspirations. More recently, LPL established a personalized application process that welcomes Atria employees who wish to join LPL to apply for open roles.”
Kevin Mummau, who was appointed co-head of Atria’s financial institution channel in January 2023, left on Aug. 1, according to regulatory filings. It’s unclear whether Brian Bichler, his co-head, is still with the firm. The two had direct responsibility for Atria’s investment programs for credit unions and banks.
Bob Holcomb, Atria’s chief marketing officer since 2018, was also out on Aug. 1, according to regulatory filings. Other recent marketing departures included Grant Cox, executive director and head of marketing communications; Kara Higgins, vice president of marketing; and Sam Scott, an assistant vice president of marketing communications, who joined Carson Group. Skott McKinney, Atria’s head of digital marketing, joined The Wealth Consulting Group as CMO in June, according to a LinkedIn post. Jodi Wright, vice president of demand generation, has also left, according to LinkedIn.
Christopher Monk, an executive director and head of strategic partnerships and product strategy, was no longer registered with the firm, as of Aug. 1. He had been with Cadaret, Grant, one of the broker/dealers acquired by Atria, since 2014.
Brian Nelson, head of practice management, is also no longer registered. He was brought into that role at Cadaret, Grant in 2019. Prior to that, he founded Pratica Consulting, a consulting firm focused on advisor practice management, strategic consulting and sales strategy.
John Picone, head of investment solutions since 2018, recently joined Corebridge Financial as executive vice president, head of retirement and wealth distribution, according to a LinkedIn post. Corebridge provides annuities, life insurance, retirement plans, wealth management and other financial services.
Rhett Meadows, an assistant vice president and head of relationship management at Atria, joined Hines Private Wealth Solutions, a real estate investment firm, in May as a private wealth director, LinkedIn shows.
Cox declined to comment. Several other executives could not be immediately reached for comment.
Several senior executives, including Bill Morrissey, head of the independent channel, and Kevin Beard, chief growth officer and founding partner, were still registered with the firm. Atria Founder Doug Ketterer and his founding partner and chief operating officer Eugene Elias Jr. stepped down a couple months ago.
Separately, several of Atria’s entities recently filed to withdraw from the Protocol for Broker Recruiting, including Cadaret, Grant; Grove Point Advisors; Grove Point Investments; Next Financial Group; SCF; and Western International Securities.
The executives founded Atria in 2017 with the backing of private equity firm Lee Equity Partners, intending to offer their underlying b/ds recruiting pipelines, practice management help and investment capital.
Over the years, Atria clocked numerous acquisitions, starting with sister broker/dealers CUSO Financial Services and Sorrento Pacific Financial. It also acquired Western International Securities, NEXT Financial Group, Cadaret Grant, Grove Point Financial and SCF Securities.
As far back as 2019, Atria fended off rumors it was eyeing a sale, even as consolidation among broker/dealers was accelerating. In June 2023, WealthManagement.com reported that the firm lost five recruiters in the first five months of 2023, including the departure of Gary Bender in March, who joined Atria one year earlier from Securities America.
LPL closed on the acquisition of Atria last October, saying it expects to retain 80% of the firm’s advisors. Last week, LPL also closed on its acquisition of Commonwealth Financial Network and its 3,000 advisors. Company executives said it is on track to retain 90% of advisors in that deal, with final integration coming in the fourth quarter of 2026.
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