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Cetera’s Summit Financial Networks Lures $312 Million Practice from LPL

Cetera’s Summit Financial Networks Lures $312 Million Practice from LPL. Financial services, Cetera, Summit Financial Networks, Regal Wealth Advisors, LPL

Cetera Financial Group announced the addition of Regal Wealth Advisors to Summit Financial Networks, a part of Cetera Advisor Networks LLC. Regal Wealth provides comprehensive planning and investment advice to clients and had more than $312 million in assets under administration as of Feb. 2.

The group, cofounded by Michael McCarthy, CFP, CLU, ChFC and Andrew S. Pincus, JD, CPA, CFP, and accompanied by long-time investment professional Fred DaVeiga, CPA, CFP, is based out of Myrtle Beach, S.C. and joins Cetera from LPL Financial.

“We were drawn to Summit because its culture so closely mirrors our own,” McCarthy said. “At Regal Wealth Advisors, we differentiate ourselves by providing personalized attention to our clients – and we know we can expect the same from Summit. I look forward to experiencing individualized support from Summit while also tapping into the broad array of resources available through Cetera. I know both will make a real difference for our practice and our clients for years to come.”

“I am happy to welcome Michael, Andrew, and the entire Regal Wealth team to our network of more than 4,000 talented advisers,” said Marshall Leeds, president and regional director of Summit Financial Networks. “Summit is an ideal fit for advisers looking for tailored support for the betterment of their clients’ futures. I know Regal Wealth’s commitment to their clients is unparalleled and we look forward to providing strategic support to help the firm continue thriving in our community.”

McCarthy is a 30-year-industry veteran. In addition to cofounding the group, McCarthy serves as the director of financial planning, overseeing Regal Wealth’s investment programs and managing the development of financial plans, estate plans, business succession plans and complex life insurance structures.

Meanwhile, Pincus brings a strong knowledge of financial and tax issues to the firm, allowing him to develop comprehensive financial plans that consider all aspects of client’s lives.

DaVeiga brings experience from multiple industries in the field of finance and accounting. He works closely with individuals, families and businesses, as well as collaboratively with their tax and legal professionals.

Cetera Financial Group serves more than 12,000 independent financial professionals and their teams, including tax professionals, banks, and credit unions in providing financial planning and wealth management services. Cetera oversees more than $475 billion in assets under administration and $190 billion in assets under management, as of Dec. 20, 2023.

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