[ad_1]
Cetera Monetary Group has terminated the registration for Cetera Advisors, one in all its RIAs, and merged it into Cetera Funding Advisers, in line with an announcement. Cetera Funding Advisers will turn out to be the first RIA for “legacy Cetera communities.”
“By this effort, we’re realizing important value financial savings, which we’re reinvesting in instruments and assets that may assist our advisors develop their companies and profit their purchasers,” mentioned Tom Taylor, chief gross sales and progress officer at Cetera, in an announcement.
The RIA Cetera Advisors had almost $22 billion in complete belongings and 997 advisory workers, in line with its newest Type ADV, whereas Cetera Funding Advisers has about $104 billion in complete belongings and almost 6,000 advisory workers. That is up from $33 billion earlier this 12 months.
Along with Cetera Funding Advisers, Cetera has two different RIA entities registered with the Securities and Change Fee, together with Cetera Advisory Companies, and Cetera Funding Administration. Cetera Advisor Networks, one other RIA it owned, was closed up and consolidated final 12 months, in line with public filings.
Over time, Cetera has been consolidating a few of its dealer/supplier entities, together with Buyers Capital Corp., VSR Monetary and Summit Brokerage Companies, which was transformed into an workplace of supervisory jurisdiction of Cetera Advisor Networks. In 2022, First Allied was shuttered and built-in into Cetera Advisors.
As of December 2023, Cetera had greater than 12,000 advisors overseeing greater than $475 billion in belongings underneath administration and $190 billion in belongings underneath administration.
[ad_2]
