Cetera To Purchase Securian Monetary’s Retail Wealth Enterprise

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 turn out to be a definite neighborhood 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 at present that it has entered right into a definitive settlement to amass the retail wealth enterprise of Securian Monetary Group, Inc. (Securian Monetary). Below the settlement, Cetera will purchase sure property 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 property underneath administration and $24.8B in property underneath administration (as of December 31, 2022) will probably be built-in as a definite neighborhood, branded as Cetera Wealth Administration Group, throughout the Cetera Advisor Networks neighborhood. 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.

As a part of the acquisition, Cetera will prolong employment gives 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 increase 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 will not be disclosed.

“We have now lengthy admired Securian Monetary’s dedication to their managing companions, their highly effective unbiased working mannequin and devoted neighborhood of unbiased monetary professionals,” stated Adam Antoniades, CEO at Cetera. “Our Wealth Hub, which uniquely brings selection and suppleness 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 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 accomplice relationships that exist, not solely gives a recipe for achievement however is smart 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,” stated Chris Hilger, Securian Monetary’s chairman, president and CEO. “Cetera delivers on all essential points of our acquisition accomplice choice standards, together with neighborhood 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 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 precise match for our enterprise and neighborhood of monetary professionals,” stated Jeffrey Buchheister, CFO at Cetera. “We’re excited to welcome the Securian Monetary crew to Cetera and sit up for many shared successes to come back.”

Morgan Stanley and UBS Funding Financial institution are performing as monetary advisors and Willkie 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) gives monetary professionals and establishments the most recent 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 unbiased monetary advisors, tax professionals, licensed directors, giant enterprises, in addition to establishments, similar to 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 development.

Cetera’s method empowers advisors to affiliate in whichever means they deem most applicable. Through the skilled life cycle of their apply, 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 apply, folks, and legacy. Cetera delivers unbiased and unbiased monetary recommendation, custom-made choices, development 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 oversees roughly $322 billion in property underneath administration and $115 billion in property underneath administration, as of December 31, 2022. In a current advisor satisfaction survey of greater than 14,000 opinions, Cetera’s Voice of Buyer (VoC) program vigorously measures advisor expertise and satisfaction 24/7. At the moment, it is ranked 4.7 out of 5 stars.

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

“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 Buyers), and Cetera Monetary Specialists LLC. All companies are FINRA/SIPC members. Situated at: 655 W. Broadway, 11th Flooring, San Diego, CA  92101.

People affiliated with Cetera companies are both Registered Representatives who provide solely brokerage providers and obtain transaction-based compensation (commissions), Funding Adviser Representatives who provide solely funding advisory providers and obtain charges primarily based on property, or each Registered Representatives and Funding Adviser Representatives, who can provide 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 goal 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 actually precious: 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 firms, together with Minnesota Life Insurance coverage Firm and Securian Life Insurance coverage Firm, a New York approved insurer. Securities and funding advisory providers supplied by Securian Monetary Companies, 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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