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A purchase agreement announced Tuesday between two financial services firms is expected to benefit customers in the acquisition target’s Fresno footprint.

San Diego-based LPL Financial Holdings Inc. entered an agreement to acquire New York-based Atria Wealth Solutions, Inc.

Atria supports about 2,400 advisors, 150 banks and credit unions and manages about $100 billion in brokerage and advisory assets. Founded in 2017, Atria operates a network of broker-dealer subsidiaries supporting independent financial advisors and institutions nationwide, including in Fresno.

Atria acquired SCF Securities, Inc., an independent wealth management firm based in Fresno, in 2021.

If the latest purchase agreement between LPL Financial and Atria closes as expected in the second quarter, the conversion is expected to be completed by mid-2025.

As part of the agreement, Atria will transition its brokerage and advisory assets currently custodied with its network of broker-dealers to the LPL platform. The broker-dealers include two with a focus on supporting banks and credit unions — CUSO Financial Services and Sorrento Pacific Financial – and five that support independent financial professionals — Cadaret Grant, NEXT Financial Group, SCF Securities, Western International Securities and Grove Point Financial.

“Atria has built a great community of advisors and institutions, led by their client-centered culture,” said Dan Arnold, LPL Financial president and chief executive officer. “We look forward to welcoming their advisors and institutions to the LPL family, and to helping them optimize their success by providing the capabilities, technology and services to differentiate and win in the marketplace and run thriving businesses.”

Formed through the merger of two small brokerage firms Linsco and Private Ledger in 1989, LPL Financial serves more than 22,000 financial advisors, including advisors at approximately 1,100 enterprises and about 570 registered investment advisor firms nationwide.

LPL Financial, traded on the NASDAQ under LPLA, has several brokers in the Central Valley.

The terms of the agreement were not disclosed.