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Financial Planning > Tax Planning

LPL Financial Nabs $1B Cetera Team

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Headshot of Monte Peterson , advisor Tagge Rutherford Financial Group President Monte Peterson 

LPL Financial has recruited the Tagge Rutherford Financial Group, a team with $1 billion in advisory and brokerage assets based in Omaha.

Tagge Rutherford, which includes 25 financial advisors and 25 support staff, was affiliated with Cetera Advisors for the past 14 years, according to FINRA BrokerCheck. The firm was founded in 1993, and most of its members have spent their entire career with the firm.

Partners on the Tagge Rutherford executive team include: Monte Peterson, president; Scott Norvell, managing executive; Chad Peterson, executive vice president of marketing; Adam Bailey, executive vice president; and Nate Edie, financial consultant.

The news comes less than two weeks after LPL announced that BMO Harris Financial Advisors planned to move some $14 billion in brokerage and advisory assets and 115 financial advisors onto its platform by the middle of next year.

The Tagge Rutherford advisors and financial professionals “take a team approach to providing clients with comprehensive wealth management, retirement planning, insurance and tax strategies, estate planning and other financial services,” LPL Financial said in a press release.

The group decided to join LPL to take advantage of its integrated technology and self-clearing capabilities. After the global COVID-19 pandemic created the need to serve clients remotely, the Tagge Rutherford team became even more aware of the need for enhanced technology capabilities, the IBD said.

“We recognized a need for a change — one that impacts clients positively and creates more office efficiencies,” according to Peterson, who has 23 years of industry experience.

“With LPL’s technology platform, the tools we use to serve clients — from reporting to trading — work together under a single sign-on,” he said in a statement, adding: “It will be so much easier to manage the day-to-day support of clients, and they will have a transformed experience as well.”

Welcoming the Tagge Rutherford team, Rich Steinmeier, LPL Financial managing director and divisional president, business development, said: “We look forward to partnering with the Tagge Rutherford team for years to come.”


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