LOS ANGELES, June 21, 2017 /PRNewswire/ -- Cetera Financial Group ("Cetera" or "the Company")*, a leading network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans, and Cetera Advisor Networks, one of its member firms, today announced the successful recruitment of HBW Partners to Cetera Advisor Networks. To facilitate this transition, HBW Partners is implementing an orderly wind-down of its independent broker-dealer, HBW Securities, expected to be completed by the third quarter of this year. The entire HBW advisor-facing home office staff and its 55 independent financial advisors across the country, who collectively support approximately $820 Million in advisory and brokerage assets, will transition to Cetera Advisor Networks.
Cetera Advisor Networks is a Cetera member firm that focuses exclusively on supporting teams of like-minded independent financial advisors, typically referred to by Cetera as "regional director-led firms." Founded 26 years ago, HBW Partners will affiliate with Cetera Advisor Networks as a regional director-led firm. The independent financial advisors affiliated with HBW support retail investors across a wide spectrum of wealth levels, ages and professional backgrounds, providing fee and commission based financial guidance that is typically based on the development and implementation of a comprehensive financial plan.
Barney Hellenbrand, Chief Executive Officer of HBW Partners, said, "The many years we've spent building HBW Partners as a family with a true 'servant culture' is reflected in the enormous pride our staff and the advisors they support have in our distinctive organization, our brand and the values our brand represents to advisors and clients alike. Our transition to Cetera Advisor Networks enables us to keep the most-beloved features of our firm while eliminating the surging regulatory burdens associated with being a broker-dealer. Best of all, aligning with Cetera, provides us with immediate access to a comprehensive array of industry-leading resources that will support the ability of our advisors to grow their businesses by delivering exceptional client service."
Tom Taylor, President of Cetera Advisor Networks, said, "HBW's decision to join forces with Cetera Advisor Networks underscores how smaller and mid-sized independent firms are increasingly discovering the advantages of shedding the regulatory and operational burdens of being a broker-dealer, while keeping other key aspects of their business unchanged by becoming a regional director-led firm affiliated with us. More than ever, industry and regulatory trends today validate the strength of our exclusive focus on supporting independent teams of financial advisors operating under their own brands and cultures. We're excited about leveraging our decades of experience in supporting the success of our regional director-led firms across the country to help HBW achieve new levels of growth in this new era for financial advice, in which success will be driven by providing a truly advice-centric experience."
About HBW Partners
Established in 1991, HBW Partners is a multi-faceted financial services organization. We offer the resources of a large company, while focusing on the personal touch of a small firm. We partner with honest, caring and motivated individuals who desire the independence to run their own business, while emphasizing long term relationships enabling advisors to provide many of the best possible outcomes for their clients.
We also partner with many significant providers across all aspects of our industry. We make available state- of- the- art technology such as facial recognition tools, financial planning software, client acquisition programs and business planning tools to enhance the client experience, manage risk and increase productivity. So, whether it is professionally managed money, packaged products, tax planning, insurance, annuities or trusts; we empower our advisors with innovative products and optimal solutions to help their clients at every stage of life.
About Cetera Advisor Networks
Cetera Advisor Networks LLC is an independent broker-dealer and registered investment adviser firm that utilizes a unique regional director model to support financial advisors through the entire life cycle of their business. As part of Cetera Financial Group®, a leading network of independent retail broker-dealers, Cetera Advisor Networks is able to build and support regional teams through local service, regional offices and a national home office, facilitating the success of financial professionals.
Cetera Advisor Networks is a member of the Securities Investor Protection Corporation (SIPC) and the Financial Industry Regulatory Authority (FINRA). For more information, see ceteraadvisornetworks.com.
About Cetera Financial Group®
Cetera Financial Group ("Cetera") is a leading network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.
Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations. Advisor support resources offered through Cetera include award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology. For more information, visit cetera.com.
* "Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities, Girard Securities, and Summit Brokerage Services. All firms are members FINRA/SIPC.
Haven Tower Group
424.652.6520 ext 103
Haven Tower Group
424 652 6520 ext 101
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cetera-financial-group-and-cetera-advisor-networks-announce-recruitment-of-hbw-partners-300477173.html
SOURCE Cetera Financial Group