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Cetera Makes Minority Investment in NetVEST Financial

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Cetera Financial Group, one of the nation’s largest networks of independently managed broker-dealers, announced that it has made a strategic, minority investment in NetVEST Financial LLC, an independent wealth and estate management firm in Scottsdale, Arizona, which oversees approximately $350 million in assets under administration through Cetera Advisor Networks LLC.

Cetera says the investment provides a strategic and flexible solution for NetVEST as the firm looks to the future for its clients and the next chapter for its business. NetVEST is owned and operated by founder and branch manager John M. Cartolano, who is affiliated with Cetera Advisor Networks LLC.

A financial services industry veteran, Cartolano has been providing tax-advantaged investment, financial, retirement and estate planning strategies and services for more than 30 years.

“We are pleased to support John and his team in identifying a mutually beneficial solution that helps maximize the value of NetVEST while providing flexibility and choice for the future,” said Tom Taylor, chief sales and growth officer at Cetera. “As we continue to serve as a wealth hub and meet advisors where they are, it is important that our advisors know that Cetera is here to support them through all stages of their careers to address wide-ranging needs and help solve today’s most pressing challenges.”

As The DI Wire previously reported, the company also made a minority investment in $1.7 billion Kansas-based Prosperity Advisors.

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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