The acquisition of Grove Point Financial, formerly known as H. Beck, is expected to bring 400 advisors to Atria, or 200 fewer than Kestra said it had acquired six years ago.

Atria Wealth Solutions is acquiring the independent wealth management firm Grove Point Financial from Kestra Holdings six years after the business last changed hands.

Founded in 1984 as H. Beck, Rockville, Maryland-based Grove Point had been acquired in 2017 by Kestra, which at the time had tallied more than 600 advisors across the business, according to previous announcements. Grove Point now has around 400 “independent financial professionals” overseeing $15 billion in client assets, Atria said Tuesday.

At the time of Kestra’s purchase from previous owner Securian Financial Group, H. Beck reported roughly $2.5 billion in client assets under management, although this figure did not include brokerage assets under advisement.

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