Cetera Welcomes 34-Member Pillar Financial Group with $1.8 Billion in Client Assets

Multigenerational advisory firm with offices in Washington, Idaho, and Illinois joins Cetera for its technology, personalized service, and commitment to supporting independent financial advisors

SAN DIEGO, Oct. 13, 2025 /PRNewswire/ -- Cetera today announced the addition of Pillar Financial Group, led by seven partners including CEO Luke Madsen, CFP^®, CLU^®, and a 34-member advisory team. The Seattle-based firm brings approximately $1.8 billion in assets under administration including over $500 million in retirement plan assets* and has joined the Cetera Advisors community. The firm moved to Cetera from Northwestern Mutual Investment Services, LLC.

Pillar Financial Group is a multigenerational, planning-centric, fiduciary firm that creates customized financial plans for every client. The team serves individuals, families, and businesses across their communities and has expanded through both organic growth and acquisitions.

"We wanted a firm we could grow with, and Cetera's leadership team not only shares our vision but has the scale and focus on technology to support our growth for the long term," said Madsen. "While many large broker-dealers are navigating mergers and acquisitions, Cetera's measured approach to growth ensures we'll receive the personalized attention we need to focus on our clients. For us, that was the deciding factor."

Madsen noted that Cetera's expanding platform supports the firm's ability to continue to deliver advanced estate planning and high-net-worth solutions, including alternative investments, and also, integrates tax planning. He emphasized the firm's commitment to providing succession opportunities to senior advisors while focusing on developing the next generation of advisors.

"Our focus is putting highly credentialed, sophisticated advisors in front of clients – not chasing transactions," Madsen added. "Pillar is a place where younger advisors can learn, grow, and ultimately become partners. We also believe we are a perfect destination for advisors in the twilight of their careers and have built our firm to provide the resources clients expect from advisors that always have the support they need."

Partner and Wealth Management Advisor Keith Foe, CFP^®, CPA, CLU^®, CFA^®, QPFC, highlighted Pillar's unique approach to succession planning: "With advisors ranging from their 20s to their 60s, we can provide retiring advisors with a thoughtful succession plan while ensuring their clients are supported by trusted next-generation professionals," said Foe. "We want advisors to know they don't have to fully retire to transition their business. They can sell their book sooner and still control their timeline for client handoffs."

Cetera Advisor Channel Leader Tom Halloran welcomed Pillar Financial Group, saying: "Luke and his team are deeply principled and client-first. They value independence and want the flexibility of an open architecture, which Cetera provides in contrast to the more restrictive insurance model. We're eager to support Pillar Financial Group as they expand capabilities and serve a growing base of high-net-worth clients."

For more information about Pillar Financial Group, visit pillarfinancialgroup.com or connect with the firm on LinkedIn and Instagram.

About Cetera

Cetera Financial Group (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 advisors 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, 2025, Cetera firms manage approximately $590 billion in assets under administration and $263 billion in assets under management. Its award-winning Voice of the Customer program has captured more than 40,000 advisor reviews, with over 35,000 five-star ratings, giving Cetera a 4.8 out of 5 satisfaction score.

Learn more at www.cetera.com and follow Cetera on LinkedIn, Instagram, Facebook, YouTube, and X.

Cetera refers to the network of independent retail firms encompassing, among others, those that are members FINRA/SIPC: Cetera Advisors LLC, Cetera Wealth Services, LLC (f/k/a Cetera Advisor Networks), Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC; and a Securities and Exchange Commission registered investment adviser: Cetera Investment Advisers LLC.

Financial professionals 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.

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 business. This information is not intended as tax or legal advice.

*Value approximated based on asset holding details provided to Cetera as of June 20, 2025.

SOURCE Cetera Financial Group