Skip to content

Cetera To Purchase Securian Monetary’s Retail Wealth Enterprise

  • BUSINESS

Securian Monetary retail wealth enterprise consists of greater than 1,000 monetary professionals throughout greater than 30 unbiased companies, representing $47.4B in AUA and $24.8B in AUM

Enterprise to change into a definite group inside Cetera Advisor Networks

THE ANGELS and ST. PAUL, Minn., Jan 25, 2023 /PRNewswire/ — Cetera Monetary Group (Cetera), one in every of America’s largest networks of monetary professionals, introduced right this moment that it has entered right into a definitive settlement to accumulate the retail wealth enterprise of Securian Monetary Group, Inc. (Securian Monetary). Underneath the settlement, Cetera will purchase sure belongings associated to Securian Monetary Companies, Inc. – Securian Monetary’s broker-dealer, registered funding advisor and insurance coverage company – in addition to the fairness of Securian Belief Firm, NA. Greater than 1,000 monetary professionals throughout 30 unbiased companies representing $47.4B in belongings beneath administration and $24.8B in belongings beneath administration (as of December 31, 2022) might be built-in as a definite group, branded as Cetera Wealth Administration Group, inside the Cetera Advisor Networks group. As well as, the transaction features a broad strategic partnership settlement geared toward aligning the pursuits of the 2 organizations, together with an association whereby Securian Monetary will distribute its particular person life and annuity merchandise by Cetera’s affiliated monetary professionals.

As a part of the acquisition, Cetera will prolong employment provides to the administration staff and all eligible staff who help Securian Monetary’s retail wealth enterprise. Securian Belief Firm, NA, will change into a standalone Cetera entity and can proceed to serve its current advisors and purchasers, and develop to serve these in Cetera’s different companies. The transaction is predicted to shut within the third quarter of 2023, pending regulatory approval. Phrases of the deal will not be disclosed.

“Now we have lengthy admired Securian Monetary’s dedication to their managing companions, their highly effective unbiased working mannequin and devoted group of unbiased monetary professionals,” stated Adam Antoniades, CEO at Cetera. “Our Wealth Hub, which uniquely brings selection and adaptability to our monetary professionals in addition to best-in-class progress capabilities, is complementary and synergistic to Securian Monetary’s working mannequin, and we envision untapped progress potential for the unbiased monetary professionals becoming a member of the Cetera community.Our companies share a number of frequent values, together with a purpose-driven, service-first mindset that’s grounded in our mission to assist monetary professionals and monetary establishments develop.This, coupled with the energy of the managing associate relationships that exist, not solely provides a recipe for achievement however is smart on so many ranges.”

“This transaction permits Securian Monetary to extend our strategic focus and speed up progress in our precedence markets, whereas on the identical time proceed our dedication to the retail wealth enterprise by our strategic partnership with Cetera,” stated chris hilger, Securian Monetary’s chairman, president and CEO. “Cetera delivers on all necessary points of our acquisition associate choice standards, together with group focus, differentiating scale, and industry-leading expertise selection and product platforms. Most significantly, Cetera is a superb cultural match, valuing our distinctive working mannequin and dedication to accelerating progress for monetary professionals.”

“This acquisition underscores Cetera’s sturdy monetary well being and wealth hub ethos and represents an instance of our promise to develop organically, in addition to by acquisitions which can be the fitting match for our enterprise and group of monetary professionals,” stated jeffrey buchheister, CFO at Cetera. “We’re excited to welcome the Securian Monetary staff to Cetera and look ahead to many shared successes to return.”

Morgan Stanley and UBS Funding Financial institution are performing as monetary advisors and Willie Farr & Gallagher LLP is performing as authorized advisor to Cetera. Goldman Sachs & Co. LLC is performing as monetary advisor and Eversheds Sutherland is performing as authorized advisor to Securian Monetary. UBS Funding Financial institution is serving because the Lead Left Arranger for the financing.

About Cetera Monetary Group®

An at-scale wealth hub, Cetera Monetary Group (Cetera) provides monetary professionals and establishments the most recent options, help, and companies. Breaking away from a commoditized and homogenous IBD mannequin, Cetera as a substitute creatively addresses advisors’ and establishments’ distinctive wants, whether or not they’re in search of to develop, scale, or transition with a merger, sale, funding, or succession plan. Cetera proudly serves unbiased monetary advisors, tax professionals, licensed directors, giant enterprises, in addition to establishments, resembling banks and credit score unions. Cetera has a longtime historical past of serving giant enterprises and monetary establishments, offering a longtime and repeatable blueprint for scalable progress.

Cetera’s strategy empowers advisors to affiliate in whichever means they deem most applicable. In the course of the skilled life cycle of their apply, the Cetera wealth hub proactively turns – guaranteeing every advisor’s affiliation mannequin identifies and ignites progress levers, in a means that maximizes the worth of their apply, folks, and legacy. Cetera delivers unbiased and unbiased monetary recommendation, personalized choices, progress and succession sources, an enhanced advisor tech stack and importantly, an expertise the place monetary professionals do not feel like a quantity, however an integral a part of Cetera’s wealthy and thriving ecosystem.

Dwelling to greater than 8,000 monetary professionals and their groups, Cetera overlooks roughly $322 billion in belongings beneath administration and $115 billion in belongings beneath administration, as of December 31, 2022. In a current advisor satisfaction survey of greater than 14,000 evaluations, Cetera’s Voice of Buyer (VoC) program vigorously measures advisor expertise and satisfaction 24/7. At present, it is rated 4.7 out of 5 stars.

Go to www.cetera.com, and observe Cetera on LinkedIn, YouTube, Twitter andFacebook.

“Cetera Monetary Group” refers back to the community of unbiased retail companies encompassing, amongst others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Funding Companies LLC (marketed as Cetera Monetary Establishments or Cetera Traders), and Cetera Monetary Specialists LLC. All companies are FINRA/SIPC members. Positioned at: 655 W. Broadway, 11th Ground, San DiegoCA 92101.

People affiliated with Cetera companies are both Registered Representatives who provide solely brokerage companies and obtain transaction-based compensation (commissions), Funding Adviser Representatives who provide solely funding advisory companies and obtain charges primarily based on belongings, or each Registered Representatives and Funding Adviser Representatives, who can provide each varieties of companies.

About Securian Monetary

At Securian Monetary, we’re right here for household. And we’re right here due to it. We’re guided by our function of serving to prospects construct safe tomorrow. Since 1880, we have been constructing a uniquely diversified firm that has outlasted financial ups and downs whereas staying true to our prospects. We offer insurance coverage, funding and retirement options that give households the boldness to deal with what’s really invaluable: banking recollections with those that matter most. For extra details about Securian Monetary, go to securian.com or observe us on Fb, Twitter or LinkedIn.

Securian Monetary is the advertising identify for Securian Monetary Group, Inc., and its subsidiaries. Insurance coverage merchandise are issued by its subsidiary insurance coverage corporations, together with Minnesota Life Insurance coverage Firm and Securian Life Insurance coverage Firm, a New York approved insurer. Securities and funding advisory companies provided by Securian Monetary Companies, Inc., registered funding advisor, member FINRA/SIPC. Securian Belief Firm, NA, is an affiliate of Securian Monetary Group and a nationwide belief financial institution chartered by the Workplace of the Comptroller of the Foreign money.

SOURCE Cetera Monetary Group

.

Leave a Reply

Your email address will not be published. Required fields are marked *