SAN DIEGO , Oct. 10, 2024 /PRNewswire/ — Cetera Financial Group (Cetera), the premier financial advisor Wealth Hub, announced today that it has been ranked the second-fastest growing independent brokerage by industry publication Financial Planning . The Financial Planning IBD Elite 2024 list recently ranked brokerages by percentage increase in their annual revenue between 2023 and the prior year, listing the combined Cetera-Avantax organization #2 on the list.
“Using the capital of its financial backer, Genstar Capital, Cetera completed two of the largest deals in the channel last year with the addition of the retail wealth and trust business of Securian Financial Group and Avantax,” reads an article accompanying the ranking.
In August 2023 , Cetera closed its acquisition of the retail wealth and trust business of Securian Financial Group, Inc. (Securian Financial), bringing nearly $50 billion in client assets to Cetera. The financial professionals and their teams who joined Cetera – reflecting a retention rate of 91% – now make up a distinct Cetera community, branded as Cetera Wealth Management Group.
Just a few months later in November 2023 , Cetera Holdings closed the successful acquisition of Avantax, which brought more than $82 billion in assets under administration* into Cetera. Avantax is now a unique community within the Cetera family with more than 3,000 financial professionals. Cetera retained Avantax’s brand, core technology, product offerings and existing clearing and custody relationships.
Click here to read the Financial Planning article, IBD Elite 2024: The 10 fastest growing independent brokerages .
Visit www.cetera.com for more information.
About Cetera Financial Group®
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 approximately 12,000 financial professionals and their teams, Cetera oversees more than $521 billion in assets under administration and $224 billion in assets under management, as of June 30, 2024 . In a recent advisor satisfaction survey of nearly 35,000 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 LinkedIn , YouTube , X and Facebook .
“Cetera Financial Group” refers to the network of independent retail firms encompassing, among others, Cetera Investment Advisers LLC, a registered investment adviser, and the following FINRA/SIPC members: Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. Located at: 655 W. Broadway, 11th Floor, San Diego, CA 92101.
* Value approximated based on asset holding details provided to Cetera as of September 30, 2023 .
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SOURCE Cetera Financial Group