Cetera Recruits More Than $2.4 Billion in New Assets In 3Q21
Cetera Financial Group, a network of independent wealth management firms, has reportedly recruited more than $2.4 billion in new assets in the third quarter of 2021.
Cetera Financial Group, a network of independent wealth management firms, has reportedly recruited more than $2.4 billion in new assets in the third quarter of 2021 and is on pace to add more than $10 billion in new assets to its platform in 2021.
Key firms that joined Cetera in the third quarter include two practices managing a combined $350 million that joined Cetera through Farpointe Wealth Partners in late September. In addition, HD Financial Specialists based in East Amherst, New York supports $100 million in assets and joined in early September.
Johnson Financial, a Louisiana-based family-run tax and financial planning firm founded in 1975 that oversees more than $210 million in assets affiliated with Cetera in August.
Brumbaugh Wealth Management, a Pennsylvania-based wealth management firm with nearly $400 million in assets under management, joined in August.
Richardson Financial Group, led by father-son team David and Ryan Richardson, oversees more than $160 million, joined in July.
Cetera oversees $340 billion in assets under administration and $119 billion in assets under management, as of June 30, 2021. The network includes 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.
