The latest mergers, acquisitions and other corporate actions in the wealth management sector.

MSCI, Fabric
MSCI, the provider of financial market data and benchmarks for investors, has agreed to buy Fabric, a US-based tech platform specializing in portfolio design, customization, and analytics for wealth managers and advisors.

Fabric, which has offices in New York City, and Boulder, Colorado, was founded in 2019. The firm provides wealth managers and advisors with a platform for modern portfolio design and risk assessment for customizing portfolios.

The terms of the transaction were not disclosed, and the financial impact of the transaction is not expected to be material to MSCI, the firm said in a statement yesterday.

The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions.

“Today, MSCI offers wealth management tools for home office model portfolio construction, product due diligence, portfolio analysis, advisor goal-based planning, sales enablement proposals, and more,” Jorge Mina, head of analytics, MSCI, said. “This combination with Fabric will not only enhance the use of our existing content and tools but accelerate the development of new strategic functionalities related to rules-based portfolio construction.”

Atria
Atria Wealth Solutions, a multi-channel wealth management solutions holding company, has added Gaschen, Berlingeri & Casebolt, to Atria subsidiary Cadaret Grant.

Previously with Cetera Advisors and Edward Jones, the Lubbock, Texas-based team oversees over $175 million in client assets.

Paul Gaschen and Angel Berlingeri, who originally co-founded Gaschen, Berlingeri and Associates, along with Jonathan Casebolt, have experience in multi-generational wealth planning and providing strategic growth and transition solutions for small business owners. 

The advisors work with estate planning attorneys, CPAs, realtors and other professionals. 

Atria is headquartered in New York City. It operates the following wealth management subsidiaries that provide brokerage and advisory services: CUSO Financial Services, Sorrento Pacific Financial, Cadaret Grant, NEXT Financial Group, Western International Securities, SCF Securities, and Grove Point Financial. Atria's subsidiaries together support close to 2,700 financial professionals with nearly $120 billion of assets under administration.