Cetera Financial Group said on Wednesday it had recruited a large team in Texas with $2.4 billion in wealth management assets.
Called Totus Wealth Management and led by its CEO James Starnes, the group had been registered until the end of last month with MML Investors Services, the broker-dealer arm of MassMutual, the insurance company.
According to BrokerCheck, Starnes is a 20-year veteran of the industry and was registered with MML from March 2017 through last month. He is now registered with Cetera Advisors.
2021 is turning into a red-hot recruiting year for the brokerage industry. More than 4,000 advisers and brokers switched firms in the first quarter of the year, putting 2021 on pace for record industry recruitment activity, according to InvestmentNews research.
Totus is Latin for "the whole or total" and inspires the firm’s approach to client service, Cetera said in a statement.
Starnes will be joined by a team of six producing financial professionals and four support staff with plans for immediate growth. The firm is located in Houston and has offices in Woodlands, Texas, and plans to expand, the company said.
Last month, Cetera said it had recruited The Advisors, a hybrid team based in Murrysville, Pennsylvania that manages $340 million in assets, from LPL Financial.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.