Assets, accounts and advisory business increase exponentially in two years since 2019 acquisition
Cetera revealed accelerated growth for its branch community in the two years since it acquired the assets of Foresters Financial’s U.S. brokerage and investment advisory business. Since June 2019, assets under management increased 150% and assets under administration increased 36%. In addition, the branch community nearly tripled its advisory accounts (a 195% increase).
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“Our growth strategy is driven by our purpose to deliver best-in-class financial advice to as many investors as possible through the Advice-Centric Experience,” said Jeff Buchheister, Chief Financial Officer at Cetera. “We achieve this by accelerating growth for our network of financial professionals through a proven framework that meets them where they are via a community structure that supports multiple affiliation models. We also bring growth-oriented financial professionals into this framework through a comprehensive acquisition strategy that enables new financial professionals to leverage the benefits of scale, a world-class technology platform and operational efficiency.”
Cetera’s focus on growth aligns the interests of all stakeholders, and fuels investment in technology and infrastructure aimed at enhancing productivity for financial professionals and delivering a better consumer experience. Cetera supports its financial professionals with wide-ranging capabilities designed to add new clients and gain wallet share with existing clients in a structured, repeatable way. Cetera’s recently-launched Growth360 program empowers financial professionals to learn from – and incorporate – the successes of their fastest-growing peers.
“We are proud to celebrate our two-year anniversary with impressive growth of our financial professionals,” said LeAnn Rummel, head of the Cetera branch community. “This success is a testament to our advisors and the outstanding service they provide the communities and individual investors they serve. As the need for holistic financial advice continues to grow, we look forward to continuing to deliver best-in-class financial advice to help more Americans find their version of financial well-being.”
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“Joining the Cetera branch community redefined the trajectory of our business,” said Richard Belanger, CSSCS, a wealth manager within the Cetera branch community. “The tools, support, resources, choice – and community – that Cetera offers have helped our practice realize its potential in serving clients and growing our business. We would not have achieved this level of success with another firm and we are proud to call Cetera home.”
To commemorate the two-year anniversary of its branch community and the growth success, Cetera introduced a new financial professional and client-facing “Premier Client Group” that recognizes those financial professionals in its branch community who have achieved a certain threshold of assets by providing customizable branding and marketing materials.
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