Cetera Welcomes Concourse Financial Group to Its Family
Cetera Welcomes Concourse Financial Group to Its Family
Cetera Financial Group has proudly closed its acquisition of Concourse Financial Group Securities, Inc., adding significant assets and expertise to its holdings. This transition marks an exciting new chapter for Concourse and its professionals, who will now enjoy the robust resources of Cetera.
Expansion of Wealth Management Resources
With over $12 billion in assets under administration and $4 billion in assets under management joining the ranks of Cetera, this acquisition signifies a serious commitment to enhancing client services and advisor capabilities. Approximately 350 financial professionals from Concourse are now part of the Cetera Wealth Partners community, gaining access to a wealth of resources and support designed to propel their growth.
Commitment to Growth and Development
Mike Durbin, CEO of Cetera, expressed his enthusiasm about the acquisition, noting the impressive retention of assets, which exceeded expectations. He said, "We are pleased to successfully close this important acquisition...in Cetera Wealth Partners, the Concourse team joins a group of like-minded professionals focused on serving clients first. We will continue to strategically grow our presence in the market through consolidations that bolster our capabilities." This acquisition is strategically aligned with Cetera's ongoing growth ambitions.
A Warm Welcome from Cetera’s Leadership
Libet Anderson, President of Concourse Financial Group Securities, shared the positive sentiments of the Concourse team: "We already feel very much at home at Cetera. The company’s scale and sophisticated resources will help us achieve our ambitious growth goals while maintaining a strong sense of community. Cetera’s tools and solutions are tailored perfectly for our needs." This emphasizes the community-focused culture Cetera champions.
Building Future Success Together
Aaron Seurkamp, Senior Vice President at Protective, remarked on the promising outlook for all involved. He pointed out that this acquisition allows Protective to concentrate on its core business while providing strong futures for Concourse's financial professionals and clients under Cetera's leadership. It’s a win-win situation for both organizations, highlighting Cetera's ability to nurture talent and resources in the wealth management space.
A Stronger Future Through Strategic Acquisitions
This move is not an isolated incident but part of a larger strategy that has seen Cetera successfully complete multiple acquisitions in recent years. Previously, Cetera acquired Securian Financial Group's wealth business, which added approximately $50 billion in assets, and Voya Financial Advisors' financial planning channel, contributing another $37 billion. Each acquisition has reinforced Cetera's commitment to growth and excellence in wealth management.
Understanding Cetera's Innovative Approach
Cetera operates as the premier hub for financial advisors, offering innovative tools and support to foster success. The firm serves a diverse range of clients, including independent advisors and larger institutions, aiming to improve control and value creation for all its stakeholders. Currently, Cetera manages over $545 billion in assets, reflecting its substantial market presence.
Fostering Client Relationships and Advisor Satisfaction
Recent research indicates high advisor satisfaction within Cetera's network, as evidenced by their 4.8 out of 5-star rating from nearly 35,000 advisor reviews. This speaks volumes about the emphasis Cetera places on building relationships and ensuring advisors feel supported in their professional journeys. The company's commitment to continuous improvement ensures that it remains a leader in the industry.
Frequently Asked Questions
What recent acquisition has Cetera completed?
Cetera has recently completed the acquisition of Concourse Financial Group Securities, Inc., enhancing its wealth management capabilities.
How many professionals joined Cetera from Concourse?
Approximately 350 financial professionals from Concourse joined the Cetera Wealth Partners community as part of the acquisition.
What is the total asset value now under Cetera's management?
With the acquisition, Cetera manages over $545 billion in assets, reflecting its substantial influence in the market.
What unique support does Cetera offer its advisors?
Cetera provides innovative resources and community-focused solutions that are designed to facilitate advisor growth and enhance client service.
What is Cetera's vision for future acquisitions?
Cetera aims to continue its strategic growth through mergers and acquisitions that complement its existing operations and support its advisors.
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