Cetera Financial Group has made a minority investment in Boston-area-based CCR Wealth Management, which manages $2.5 billion. Financial terms of the arrangement was not disclosed.
Led by David Borden, CCR and its 25 team members have been affiliated with Cetera since 2000.
Cetera said in a statement that such investments could provide a new option for independent-broker dealers. The move represents “an additional path, outside of our succession and buyout solutions,” Adam Antoniades, CEO of Cetera, said in the statement.
“This truly puts Cetera’s skin in the game, so to speak," Antoniades said. "We win if the advisor wins, meaning the practice grows exponentially."
According to the statement, Cetera has purchased three advisory firms outright over the past two years: Costanzo Financial Group, BAR Financial and MAGIS.
"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews.
Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.
Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.
Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.
The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
