LOS ANGELES, Aug. 14, 2019 /PRNewswire/ -- Cetera has reported its network has added over 1,000 registered representatives year-to-date and reached a record $19.1 billion in newly recruited assets under administration. Growth is attributed in part to its decision to debut a new branch office model of affiliation with the close of its acquisition of certain assets of Foresters Financial's U.S. broker-dealer and advisory business. The new branch office model is branded as Cetera Investors.* This transaction represents the largest acquisition made by Cetera since 2014 and brought in over 400 new advisors. As a growth-oriented, next-generation financial advice firm, Cetera is committed to offering advisors flexibility and choice in their model of independent affiliation.
Cetera leverages its infrastructure to support and accelerate growth for new advisors while allowing them to operate in their model of choice, such as a region, branch network, financial institution or as individual independent advisors. The company continues to deliver on its growth strategy both organically and through acquisitions in addition to making investments in programs like AdviceWorks, SetIncome1 and Advice Pay which elevate the efficiency and profitability of an advisor's practice, all which have been highly attractive to prospects.
Adam Antoniades, President of Cetera, said, "We understand that there is no one-size-fits-all model of affiliation, and remain committed to supporting advisors through whichever means of affiliation they choose. It is our mission to provide advisors with the tools necessary to grow their business while allowing them to focus more of their time working with their clients. We remain committed to our growth strategy and helping Cetera's network of advisors through our leading technology platform and tools, in-depth training and ongoing business consulting support that helps advisors deliver an Advice-Centric Experience® to clients."
Financial terms of the Cetera Investors transaction were not disclosed.
*Cetera Investors is a marketing name of Cetera Investment Services LLC, member FINRA/SIPC.
1Index annuities are insurance contracts that, depending on the contract, may offer a guaranteed annual interest rate and some participation growth, if any, of a stock market index. Such contracts have substantial variation in terms, costs of guarantees and features and may cap participation or returns in significant ways. Any guarantees offered are backed by the financial strength of the insurance company, not an outside entity. Investors are cautioned to carefully review an index annuity for its features, costs, risks and how the variables are calculated
About Cetera Financial Group®
Cetera Financial Group (Cetera) is a leading financial advice firm. It empowers the delivery of an Advice-Centric Experience® to individuals, families and businesses across the country through independent financial advisors as well as trusted tax professionals and banks and credit unions.
Comprehensive services include: wealth management solutions, retirement plan solutions, advisory services, practice management support, innovative technology, marketing guidance, regulatory support, and market research.
"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 and Summit Brokerage Services. All firms are members FINRA / SIPC.
SOURCE Cetera Financial Group