Home Alts News Cetera Recruits Firm with $800 Million AUM

Cetera Recruits Firm with $800 Million AUM

Cetera Financial Group, a leading network of independent firms, recruited HBW Partners to Cetera Advisor Networks, and one of its member firms.

To facilitate this transition, HBW Partners is implementing a wind-down of its independent broker-dealer, HBW Securities, expected to be completed by the third quarter of this year. The HBW office staff and its 55 independent financial advisors, who collectively support approximately $820 million in advisory and brokerage assets, will transition to Cetera Advisor Networks.

Founded in 1991, HBW Partners will affiliate with Cetera Advisor Networks as a regional director-led firm. The independent financial advisors affiliated with HBW support retail investors and provide fee- and commission-based financial guidance.

“Our transition to Cetera Advisor Networks enables us to keep the most-beloved features of our firm while eliminating the surging regulatory burdens associated with being a broker-dealer,” said Barney Hellenbrand, chief executive officer of HBW Partners.

Cetera Financial Group is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions. The network is comprised of Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities, Girard Securities, and Summit Brokerage Services. Cetera Advisor Networks is an independent broker-dealer and registered investment adviser firm.

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