Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor
Stock image of business handshake

Industry Spotlight > Advisors

Cetera Picks Up $2.5B RIA

By Jeff Berman

X
Your article was successfully shared with the contacts you provided.

Cetera Financial Group has added a registered investment advisor managing over $2.5 billion of client assets from Advisor Group’s Securities America.

The Patriot Financial Group, with more than 70 advisors across five northeastern U.S. states, along with Florida and Nebraska, has affiliated with the Cetera Financial Specialists’ group, Cetera said Tuesday.

The latest development “rounds out a record year of recruiting and business development” for Cetera, it said in a statement. The firm added that it attracted $6.3 billion in assets through its recruiting efforts in the third quarter.

“We are pleased to welcome the Patriot family to Cetera as a valued partner who shares our client-first mindset and growth aspirations,” according to John Pierce, head of business development at Cetera.

“As we continue to evolve our strategies to help advisors and firms meet their goals, this partnership is focused on growth and designed to help both firms thrive for the long-term,” Pierce added.

Cetera oversaw about $322 billion in assets under administration and $115 billion in assets under management as of Dec. 31, 2022.

Cetera has “proven resources and expertise to support and elevate our market penetration and position,” according to David M. O’Donnell, chairman of Patriot Financial, which he founded 18 years ago.

“With access to leading solutions on our RIA platform and Cetera as our new broker-dealer platform, our reps are well equipped to best serve their clients with best-in-class resources, tools and support,” O’Donnell added.

Advisor Group declined to comment about Patriot Financial’s departure.

(Image: SmartPhotoLab/Shutterstock)

Jeff Berman

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.