Wed. Feb 1st, 2023

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

Enterprise to turn out to be a definite group inside Cetera Advisor Networks

LOS ANGELES and ST. PAUL, Minn., Jan. 25, 2023 /PRNewswire/ — Cetera Monetary Group (Cetera), one in all America’s largest networks of monetary professionals, introduced right now that it has entered right into a definitive settlement to amass the retail wealth enterprise of Securian Monetary Group, Inc. (Securian Monetary). Underneath the settlement, Cetera will purchase sure belongings associated to Securian Monetary Providers, 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 impartial corporations representing $47.4B in belongings below administration and $24.8B in belongings below 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 aimed 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.

George Connolly, CLU®, ChFC®, AIF®, Government Vice President, Particular person Options at Securian

Chris Hilger, Chairman, President and CEO of Securian

Adam Antoniades, CEO of Cetera

As a part of the acquisition, Cetera will lengthen employment affords to the administration crew and all eligible staff who assist Securian Monetary’s retail wealth enterprise. Securian Belief Firm, NA, will turn out to be a standalone Cetera entity and can proceed to serve its current advisors and purchasers, and broaden to serve these in Cetera’s different companies. The transaction is anticipated to shut within the third quarter of 2023, pending regulatory approval. Phrases of the deal aren’t disclosed.

“We’ve lengthy admired Securian Monetary’s dedication to their managing companions, their highly effective impartial working mannequin and devoted group of impartial monetary professionals,” mentioned Adam Antoniades, CEO at Cetera. “Our Wealth Hub, which uniquely brings alternative and adaptability to our monetary professionals in addition to best-in-class development capabilities, is complementary and synergistic to Securian Monetary’s working mannequin, and we envision untapped development potential for the impartial monetary professionals becoming a member of the Cetera community. Our corporations share a number of widespread 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 affords a recipe for fulfillment however is sensible on so many ranges.”

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

“This acquisition underscores Cetera’s robust monetary well being and wealth hub ethos and represents an instance of our promise to develop organically, in addition to by acquisitions which might be the fitting match for our enterprise and group of monetary professionals,” mentioned Jeffrey Buchheister, CFO at Cetera. “We’re excited to welcome the Securian Monetary crew to Cetera and stay up for many shared successes to return.”

Morgan Stanley and UBS Funding Financial institution are appearing as monetary advisors and Willkie Farr & Gallagher LLP is appearing as authorized advisor to Cetera. Goldman Sachs & Co. LLC is appearing as monetary advisor and Eversheds Sutherland is appearing 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) affords monetary professionals and establishments the newest options, assist, and providers. 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 looking for to develop, scale, or transition with a merger, sale, funding, or succession plan. Cetera proudly serves impartial monetary advisors, tax professionals, licensed directors, massive enterprises, in addition to establishments, reminiscent of banks and credit score unions. Cetera has a longtime historical past of serving massive enterprises and monetary establishments, offering a longtime and repeatable blueprint for scalable development.

Cetera’s strategy empowers advisors to affiliate in whichever means they deem most applicable. Through the skilled life cycle of their observe, the Cetera wealth hub proactively turns – making certain every advisor’s affiliation mannequin identifies and ignites development levers, in a means that maximizes the worth of their observe, folks, and legacy. Cetera delivers impartial and unbiased monetary recommendation, custom-made choices, development and succession assets, 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.

Residence to greater than 8,000 monetary professionals and their groups, Cetera oversees roughly $322 billion in belongings below administration and $115 billion in belongings below 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. Presently, it is ranked 4.7 out of 5 stars.

Go to www.cetera.com, and comply with Cetera on LinkedIn, YouTube, Twitter and Fb. 

“Cetera Monetary Group” refers back to the community of impartial retail corporations encompassing, amongst others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Funding Providers LLC (marketed as Cetera Monetary Establishments or Cetera Buyers), and Cetera Monetary Specialists LLC. All corporations are FINRA/SIPC members. Positioned at: 655 W. Broadway, eleventh Flooring, San Diego, CA  92101.

People affiliated with Cetera corporations are both Registered Representatives who supply solely brokerage providers and obtain transaction-based compensation (commissions), Funding Adviser Representatives who supply solely funding advisory providers and obtain charges based mostly on belongings, or each Registered Representatives and Funding Adviser Representatives, who can supply each kinds of providers.

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 objective of serving to clients construct safe tomorrows. Since 1880, we have been constructing a uniquely diversified firm that has outlasted financial ups and downs whereas staying true to our clients. We offer insurance coverage, funding and retirement options that give households the arrogance to deal with what’s really helpful: banking recollections with those that matter most. For extra details about Securian Monetary, go to securian.com or comply with 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 firms, together with Minnesota Life Insurance coverage Firm and Securian Life Insurance coverage Firm, a New York approved insurer. Securities and funding advisory providers provided by Securian Monetary Providers, Inc., registered funding advisor, member FINRA/SIPC. Securian Belief Firm, N.A., is an affiliate of Securian Monetary Group and a nationwide belief financial institution chartered by the Workplace of the Comptroller of the Forex.

SOURCE Cetera Monetary Group

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