Cetera Has Record Recruiting Year

Cetera Financial Group attracted financial advisors overseeing more than $13 billion in assets last year, up 30% from 2021.

By Rethinking65

Cetera Financial Group attracted financial advisors overseeing more than $13 billion in assets last year, up 30% from 2021, the company announced.

Those results were a record for the independent broker-dealer, which has more than 8,000 affiliated financial professionals including advisors and their team members. As of Dec. 31, Cetera oversaw approximately $322 billion in assets under administration and $115 billion in assets under management.

“While 2022 was not without its challenges, we are energized and inspired by our results and optimistic about an even better 2023,” said John Pierce, Cetera’s head of business development, in a press release.

Attracting bigger advisors

Large financial advisor businesses that in 2022 affiliated with various Cetera network firms  include:

• The Patriot Financial Group (TPFG), an independent, registered investment advisor managing more than $2.5 billion for clients. The firm has more than 70 advisors in five northeastern states as well as Nebraska and Florida. It left Securities America to affiliate with Cetera Financial Specialists.

• Burrows Capital Advisors, led by 30-year industry veteran and advisor Don Burrows. It affiliated with Cetera Advisors via Totus Wealth Management. Burrows and partners/advisors Clint Auttonberry and Michael Agol assist their clients in overseeing more than $3 billion in assets under advisement.

• Harvest Wealth, a $1 billion team that joined Cetera Advisor Networks from Merrill Lynch. Harvest converted its practice to an independent model.

• Skafco, a financial planning team that manages approximately $300 million. The team left Mass Mutual to join Cetera’s branch community.

• Sonnenfeld Financial Group and Lincoln Capital, which manage $400 million combined. It affiliated with regions within Cetera Advisor Networks.

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