After a 27-year career at Morgan Stanley, Doug Ketterer is betting his future on small independent broker-dealers.

Atria Wealth Solutions, which Ketterer co-founded in 2016 after serving as head of strategy and client management at the wirehouse, said Thursday that it will buy Cadaret Grant & Co., a 33-year-old firm in Syracuse, NY that sells stocks, bonds and advice through about 900 independent contractors in 475 offices across the U.S.

The companies did not disclose terms of the deal, which they expect to close this quarter or early next quarter. Cadaret Grant has more than $23 billion of assets under administration.

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