Cetera Financial Group, one of the nation’s largest networks of independently managed broker-dealers, has recruited Skafco, a financial planning team that manages approximately $300 million in client assets and was previously affiliated with Mass Mutual.
Led by industry veterans Rod Skaf and Wayne Niles, the Ohio-based team has affiliated with Cetera Investors.
Skaf, who has been a financial planner since 1996, is a civil engineer by trade, and splits time between Dallas and the team’s home office in Dublin, Ohio.
Niles has more than 32 years of financial services industry experience. He focuses on the investment management aspects of the business, working with family business owners and executives.
“After months of careful contemplation and due diligence, we are excited to affiliate our practice with Cetera,” Skaf and Niles said. “The resources and support that Cetera provides stand out in so many areas that are important to the long-term health and success of our practice…”
Skafco is the latest recruiting win for Cetera, which attracted several advisors and practices in the first quarter of 2022.
Hays Breard, a $327 million Baton Rouge-based practice, joined Cetera from LPL in March. In addition, Mark Joyner joined AdvisorNet – one of the largest regions within Cetera Advisor Networks – managing $250 million in assets.
In January, InTouch Wealth Advisors, led by Jason Benedetti, Gus Dekavallas and Larry Ritter, joined Cetera as part of Wilde Wealth Management, managing nearly $200 million.
Lewis Financial Group, which oversees nearly $150 million in assets and is led by Kate Lewis, joined one of Cetera Wealth Partners’ largest OSJs from Voya Financial Advisors.
Cetera oversees approximately $353 billion in assets under administration and $122 billion in assets under management, as of December 31, 2021.
The Cetera network is comprised of Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), Cetera Financial Specialists LLC, and First Allied Securities Inc.