Cetera Financial Group has acquired BAR Financial. The financial services firm works with some 300 independent financial advisors and other professionals, as well as nearly $4 billion in assets under management on Cetera’s My Advice Architect advisory platform.
BAR, which earlier operated independently as an affiliate of Cetera Advisor Networks, is now a Cetera-owned. This allow the firm “to retain its brand autonomy while directly benefiting from the resources and scale Cetera offers,” Cetera said in announcing the transaction Wednesday.
Financial terms were not disclosed.
“Cetera is a ready buyer of both independent financial professionals’ businesses as well as large enterprises and super OSJs, or ‘regions’,” according to Cetera CEO Adam Antoniades, referring to offices of supervisory jurisdiction.
“Based on extensive experience helping OSJs grow and thrive within our regional model, we can offer an acquisition opportunity to continue to support growth through the full lifecycle of these enterprises,” Antoniades said in a statement.
Since 2015, Cetera has assisted with more than 400 succession transactions like this one, representing $9 billion of AUM, it said.