Cetera Financial Group, a network of independent firms with nearly 8,000 financial advisors, has launched its advisor alignment program, which includes engagement opportunities, investment in advisor growth through two types of loans, and an equity value participation framework.
As part of the advisor engagement strategy, Cetera created new enterprise action committees across the following areas of the organization: marketing, communication and events; risk and advocacy; technology and innovation; advisor growth; service and operational excellence; and advisor lifecycle planning and diversity.
Each committee includes two chairs and an implementation manager from its respective department, and 6-12 advisors with a two-year tenure.
Additionally, advisors can participate in Cetera’s enterprise- level advisor engagement council, which is chaired by CEO Robert Moore and includes meetings with the board at least twice a year.
The company also created two types of growth-oriented loans that can be used for lead generation initiatives and succession planning. Finally, the firm has unveiled an equity value participation program for new and existing advisors.
“Our three-pronged approach unifies advisors, shareholders, employees, and clients alike behind common goals,” said Moore. “Advisors have had past opportunities to participate in the direction and growth of organizations like ours, but that opportunity has been limited to the top producing advisors. We are creating opportunities in which a greater number of existing and new advisors are incentivized to participate and ensuring that their influence is an integral part of our mutual success.”
Cetera Financial Group is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading service provider to the investment programs of banks and credit unions. Its network includes Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities and Summit Brokerage Services.