Approximately $3 billion in organic recruiting and two new strategic relationships with financial institutions underscore positive first quarter momentum
Key affiliations continue from across the industry as advisors seek independence and embrace Cetera's wealth hub capabilities
LOS ANGELES, April 20, 2023 /PRNewswire/ -- Cetera Financial Group (Cetera), an at-scale wealth hub that offers financial professionals and institutions the latest solutions, support and services, announced today that it attracted nearly $3 billion in assets under administration through its organic recruiting efforts in the first quarter of 2023. In addition, Cetera Investment Services finalized strategic relationships with two financial institution investment programs (Mechanics Investment Services and UNCLE Wealth Management). The strong quarter reflects advisors' continued interest in Cetera's wealth hub, which empowers advisors to affiliate in whichever way they deem most appropriate and supports advisors throughout their professional lifecycles.
"As today's financial advisory landscape continues to evolve, advisors are drawn to a relationship with a partner who can support them through all stages of their careers and address their changing needs," said Tom Taylor, chief sales and growth officer at Cetera. "Cetera is positioned well to help advisors navigate today's changes as a trusted wealth hub partner. We expect continued positive momentum as advisors appreciate the value in Cetera's growth and succession resources, enhanced advisor tech stack and a personalized experience where they never feel like a number."
Key first quarter affiliations include:
- The advisors of Rohlik Financial Group joined Cetera Advisor Networks via AdvisorNet Financial, one of the largest regions within Cetera Advisor Networks. Rohlik Financial Group, led by Brent Rohlik and Suzanne Holt, CFP®, APMA®, oversees approximately $1 billion in assets under administration for clients, as of January 30, 2023.
- Three teams managing approximately $610 million in assets under administration, as of January 30, 2023, joined Cetera Advisors via Totus Wealth Management (Totus).
- The advisors of Wooster Square Advisors joined Cetera Advisor Networks via Cetera Wealth Partners. Led by managing partner and wealth manager Brett Amendola, Wooster Square manages approximately $250 million in assets under administration, as of January 30, 2023, and was previously affiliated with Park Avenue Securities.
- Adam Rekasie joined Cetera's branch community, Cetera Investors. Previously affiliated with Citizens Securities, Inc., Rekasie has 17 years of experience as financial advisor and manages approximately $106 million in assets under administration, as of January 30, 2023.
- The advisors of True Wealth Advisor Group affiliated with Cetera Advisor Networks via Cetera Wealth Partners. The True Wealth Advisor Group team manages approximately $206 million in assets under administration, as of January 30, 2023
The first quarter momentum follows a record 2022, when Cetera attracted $13 billion in organic recruiting and Cetera Investment Services onboarded 11 financial institutions. Visit www.cetera.com for more information.
About Cetera Financial Group®
An at-scale wealth hub, Cetera Financial Group (Cetera) offers financial professionals and institutions the latest solutions, support, and services. Breaking away from a commoditized and homogenous IBD model, Cetera instead creatively addresses advisors' and institutions' unique needs, whether they are seeking to grow, scale, or transition with a merger, sale, investment, or succession plan. Cetera proudly serves independent financial advisors, tax professionals, licensed administrators, large enterprises, as well as institutions, such as banks and credit unions, providing an established and repeatable blueprint for scalable growth.
Cetera's approach empowers advisors to affiliate in whichever way they deem most appropriate. During the professional life cycle of their practice, the Cetera wealth hub helps to ensure each advisor's affiliation model identifies and ignites growth levers in a way that helps increase the value of their practice, people, and legacy. Cetera delivers holistic, unbiased financial planning and advice to Main Street investors, helping them achieve their version of financial wellbeing at all life stages. For financial professionals, Cetera provides growth and succession resources, an enhanced advisor tech stack and importantly, an experience where financial professionals don't feel like a number, but an integral part of Cetera's rich and thriving ecosystem.
Home to more than 8,000 financial professionals and their teams, Cetera oversees approximately $322 billion in assets under administration and $115 billion in assets under management, as of December 31, 2022. In a recent advisor satisfaction survey of more than 14,000 reviews, Cetera's Voice of Customer (VoC) program vigorously measures advisor experience and satisfaction 24/7. Currently, it's ranked 4.7 out of 5 stars.
"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. All firms are FINRA/SIPC members. Located at: 655 W. Broadway, 11th Floor, San Diego, CA 92101.
Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.
SOURCE Cetera Financial Group