Cetera Financial Group, one of the nation’s largest networks of independently managed broker-dealers, announced that it attracted nearly $3 billion in assets under administration through its organic recruiting efforts in the first quarter of 2023.
In addition, Cetera Investment Services finalized strategic relationships with two financial institution investment programs, Mechanics Investment Services and UNCLE Wealth Management.
“As today’s financial advisory landscape continues to evolve, advisors are drawn to a relationship with a partner who can support them through all stages of their careers and address their changing needs,” said Tom Taylor, chief sales and growth officer at Cetera. “Cetera is positioned well to help advisors navigate today’s changes as a trusted wealth hub partner. We expect continued positive momentum as advisors appreciate the value in Cetera’s growth and succession resources, enhanced advisor tech stack and a personalized experience where they never feel like a number.”
Cetera key first quarter affiliations include:
- The advisors of Rohlik Financial Group joined Cetera Advisor Networks via AdvisorNet Financial, one of the largest regions within Cetera Advisor Networks. Rohlik Financial Group, led by Brent Rohlik and Suzanne Holt, oversees approximately $1 billion in assets under administration for clients, as of Jan. 30, 2023.
- Three teams managing approximately $610 million in assets under administration, as of Jan. 30, 2023, joined Cetera Advisors via Totus Wealth Management.
- The advisors of Wooster Square Advisors joined Cetera Advisor Networks via Cetera Wealth Partners. Led by managing partner and wealth manager Brett Amendola, Wooster Square manages approximately $250 million in assets under administration, as of Jan. 30, 2023, and was previously affiliated with Park Avenue Securities.
- Adam Rekasie joined Cetera’s branch community, Cetera Investors. Previously affiliated with Citizens Securities Inc., Rekasie has 17 years of experience as financial advisor and manages approximately $106 million in assets under administration, as of Jan. 30, 2023.
- The advisors of True Wealth Advisor Group affiliated with Cetera Advisor Networks via Cetera Wealth Partners. The True Wealth Advisor Group team manages approximately $206 million in assets under administration, as of Jan. 30, 2023.
The first quarter momentum follows a record 2022, as reported by The DI Wire, when Cetera attracted $13 billion in organic recruiting and Cetera Investment Services onboarded 11 financial institutions.
Cetera Financial Group serves more than 8,000 independent financial professionals and their teams, including tax professionals, banks and credit unions in providing financial planning and wealth management services. Cetera oversees approximately $322 billion in assets under administration and $115 billion in assets under management, as of Dec. 31, 2022.
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