Cetera Financial Group announced Tuesday that it was embarking on a unified rebranding that would change the names of its four broker-dealers, but would “not change the way Cetera and its firms operate.”
Pending regulatory and other approvals, said Valerie Brown (left), CEO of Cetera, the changes will begin in the fourth quarter and be complete by early 2013. In accordance with the plan, the renaming will reflect the continuing nature of the four firms supporting advisors, financial institutions and tax and accounting professionals.
Financial Network Investment Corp. will be renamed Cetera Advisor Networks. The advisors who use the Financial Network name will be able to continue to do so as a DBA, said Brown, but the new name reflects the “relationship-driven teams and high-touch service” provided by the home office.
Multi-Financial Securities Corp., which focuses on “highly entrepreneurial” advisors, will become Cetera Advisors. Advisors will still be able to connect directly to the home office through their OSJs.
Self-clearing PrimeVest Financial Services, which focuses exclusively on financial institutions—banks and credit unions—will become Cetera Financial Institutions.