Cetera Recruits Two Advisors with $218 Million in Assets Under Administration

Cetera Financial Group, one of the nation’s largest networks of independently managed broker-dealers, announced that Michael Hall, financial advisor, and Michael Ostdiek, registered representative, joined Cetera Advisor Networks via AdvisorNet, one of the largest regions within Cetera Advisor Networks.

The duo manages approximately $128 million in assets under administration, as of Jan. 30, 2023, and come from Woodbury Financial Services.

Cetera says Hall and Ostdiek bring more than 50 years of combined financial experience in capital preservation, financial plan creation and wealth and portfolio management.

“We are thrilled to welcome Michael and Michael to Cetera, where we’re confident they will have the technology and resources to continue building their robust client portfolio,” John Pierce, Cetera’s head of business development, said. “AdvisorNet’s structure reinforces independence for advisors while providing the expertise and capabilities to fuel exponential business growth, and we look forward to opportunities to reach and exceed our collective goals together.”

Hall and Ostdiek represent the latest recruits for Cetera, which achieved record results in 2022, attracting $13 billion in assets under administration.

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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