Cetera Acquires The SFI Group as Part of Succession Plan Helping Ensure Client Service Continuity for Financial Advisor Terry Sonnenfeld
Minneapolis-based wealth management practice with approximately $200 million in AUA becomes part of Cetera Planning Partners, the national employee-advisor RIA of Cetera
SAN DIEGO, Nov. 3, 2026 /PRNewswire/ -- Cetera Financial Group, Inc. ("Cetera") has acquired the assets of The SFI Group, a Minneapolis-based wealth management practice managing approximately $200 million in AUA1, led by founder and lead advisor Terry Sonnenfeld.
With the transaction, Sonnenfeld along with his wife and office manager, Tracy Sonnenfeld, and their two-person support staff, joins Cetera Planning Partners, Cetera's scaled, national employee-advisor RIA with approximately $20 billion in AUA2. Cetera will retain and continue operating The SFI Group's Minneapolis office as the practice transitions onto the Cetera Planning Partners platform, giving Cetera Planning Partners a physical advisor presence in Minnesota.
Cetera Planning Partners delivers an integrated, elevated financial planning experience for clients, provides advisors the resources and support to focus on their client relationships, and offers a comprehensive succession solution for practices planning their next chapter.
A Cetera-affiliated advisor for the past several years, Sonnenfeld said remaining within the Cetera network, rather than moving his clients to an outside firm, was the deciding factor as he began planning for succession.
"I started in this business back in 1992. We primarily work with families, many of them three generations deep, and we've always wanted to keep that relationship instead of working with a big firm where clients just become a number," Terry Sonnenfeld said. "This transition keeps us within Cetera and moving into Cetera Planning Partners lets us build into the next generation without losing any of the deep client relationships Tracy and I have spent our careers building."
Tracy Sonnenfeld, who has managed the firm's day-to-day operations, underscored how vital it was to shield clients and staff from the disruption of moving to a new broker-dealer.
"We never wanted to leave Cetera," Tracy Sonnenfeld said. "We've told our clients how wonderful Cetera has been for years, so this was a chance to stay right where we are, just with a bigger bench of resources and support behind us. Our clients don't face a lot of changes, and that matters to us as much as it does to them."
The SFI Group's two support staff members will continue working directly with clients as the practice's day-to-day point of contact, which the Sonnenfelds said will ease the transition for the families they serve. Terry Sonnenfeld will continue serving clients while gradually introducing clients to a new advisor team and the deep resources of Cetera Planning Partners.
"Terry and Tracy have built something special in the Twin Cities – a practice where clients are treated like family across three generations in some cases," said Kevin Conard, Head of Cetera Planning Partners. "This transaction gives them the resources and bench strength to keep serving those families at the same personal level, while also giving Cetera Planning Partners a physical advisor presence in Minnesota. We are very pleased they found their long-term home with us."
For more information on Cetera Planning Partners, visit ceteraplanningpartners.com.
About Cetera
Cetera is the premier financial advisor Wealth Hub, empowering independent advisors and institutions with personalized support, flexible affiliation models, and end-to-end growth solutions. Home to approximately 12,000 financial professionals and institutions, Cetera's multi-channel ecosystem enables financial professionals to grow, scale or transition their businesses on their own terms.
Unlike traditional IBDs, Cetera offers true choice – blending modern technology, integrated wealth solutions, and a community-driven culture. Cetera's five-channel model and commitment to long-term advisor value provide a scalable blueprint for consistent, repeatable growth.
As of June 30, 2026, Cetera firms manage approximately $688 billion in assets under administration and $330 billion in assets under management. Its Voice of the Customer program has captured more than 50,000 advisor reviews, and over 45,000 five-star ratings, giving Cetera a 4.7 out of 5 satisfaction score.
Learn more at www.cetera.com and follow Cetera on LinkedIn, Instagram, Facebook, YouTube, and X.
Cetera is a network of independent retail firms, including FINRA/SIPC member firms Cetera Advisors LLC, Cetera Wealth Services, LLC (formerly known as Cetera Advisor Networks), Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. SEC-registered investment advisers include Cetera Investment Management LLC, Cetera Investment Advisers LLC, and Cetera Planning Partners within Cetera Holdings, an affiliate of Cetera. All referenced entities are under common ownership. Cetera's principal office is located at 655 W. Broadway, 11th Floor, San Diego, CA 92101.
Cetera exclusively provides investment products and services through its representatives. Although Cetera does not provide tax or legal advice, or supervise tax, accounting or legal services, Cetera representatives may offer these services through their independent outside businesses. This information is not intended as tax or legal advice.
1 Value approximated based on information provided to Cetera for asset holdings as of June 30, 2026.
2 Reflects aggregate AUA as of Aug. 31, 2026, presented on a non-integrated, pro forma basis for informational purposes only.
SOURCE Cetera Financial Group
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