April 10, 2024

Cetera Completes Successful Consolidation of Advisory Business

Press Room Cetera Completes Successful Consolidation of Advisory Business

Cetera Advisors LLC RIA consolidated into sister RIA Cetera Investment Advisers LLC

Consolidation project finishes on time and under budget; cost savings to be reinvested in advisor growth programs and resources

SAN DIEGO, April 10, 2024 /PRNewswire/ -- Cetera Financial Group, the premier financial advisor Wealth Hub, announced today that it has successfully consolidated the Cetera Advisors LLC registered investment adviser (RIA) to its sister RIA, Cetera Investment Advisers LLC. The project results in significant cost savings along with simplified and streamlined operations with no impact to affiliated advisors. The project was completed on time and under budget and Cetera Investment Advisers LLC is now the primary RIA for legacy Cetera communities.   

"This consolidation is a win for Cetera and our advisors, and we are pleased to have completed such a large-scale project so efficiently," said Tom Taylor, chief sales and growth officer at Cetera. "Through this effort, we are realizing significant cost savings, which we are reinvesting in tools and resources that will help our advisors grow their businesses and benefit their clients. This successful outcome is a testament to the dedication of our project team and their commitment to our financial professionals."   

In addition to streamlined operations, the conversion creates significant costs savings, much of which will be reinvested into people and programs dedicated to driving growth for Cetera advisors. In February, Cetera launched an industry-first "Growth Guarantee," which promises that newly affiliated financial advisors and institutions participating in the GrowthLine program will grow their assets under administration at least 38% faster or their affiliation fees will be refunded up to $2,400.*  

Visit www.cetera.com for more information.

About Cetera

Cetera Financial Group, which is owned by Cetera Holdings (collectively, Cetera), is the premier financial advisor Wealth Hub where financial advisors and institutions optimize their control and value creation. Breaking away from a commoditized and homogenous IBD model, Cetera offers financial professionals and institutions the latest solutions, support, and services 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.

Home to more than 12,000 financial professionals and their teams, Cetera oversees more than $475 billion in assets under administration and $190 billion in assets under management, as of December 20, 2023. In a recent advisor satisfaction survey of more than 32,000 reviews, Cetera's Voice of Customer (VoC) program vigorously measures advisor experience and satisfaction 24/7. Currently, it's ranked 4.8 out of 5 stars.

Visit www.cetera.com, and follow Cetera on LinkedInYouTubeTwitter and Facebook.  

"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.

*The Growth Guarantee is not for consumers, does not provide investment advice and is limited to the refund of your initial Firm affiliation fee. Please click here for the full terms and conditions.

SOURCE Cetera Financial Group