Cetera to buy Securian’s wealth business

Cetera to buy Securian’s wealth business
The deal will bring Cetera more than 1,000 advisors with $24.8 billion in assets under management and $47.4 billion in assets under administration.
JAN 25, 2023

Cetera Financial Group said Wednesday that it’s agreed to buy the wealth business of insurance company Securian Financial Group, which includes more than 1,000 advisors who manage $24.8 billion in assets under management and $47.4 billion in assets under administration. It is also acquiring the equity of Securian Trust Co.

The advisors, spread across 30 independent firms, will be branded as Cetera Wealth Management Group and be part of Cetera Advisor Networks.

The deal includes a strategic partnership in which Securian Financial will distribute life and annuity products through Cetera’s reps.

"This transaction allows Securian Financial to increase our strategic focus and accelerate growth in our priority markets, while at the same time continue our commitment to the retail wealth business through our strategic partnership with Cetera," Chris Hilger, Securian Financial's chairman, president and CEO, said in a statement.

The transaction is expected to close in the third quarter. Terms were not disclosed.

‘IN the Office’ with Steve Scanlon, head of individual retirement at Equitable

Latest News

Farther debuts AI investment proposal tool for advisors to win clients
Farther debuts AI investment proposal tool for advisors to win clients

"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.

Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler
Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler

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.

Are you optimally efficient?
Are you optimally efficient?

Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.

Advisor moves: Father-son duo leaves Raymond James for LPL, RayJay adds Merrill Lynch alum in Florida
Advisor moves: Father-son duo leaves Raymond James for LPL, RayJay adds Merrill Lynch alum in Florida

Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.

Beacon Pointe adds six RIAs in two-month acquisition spree, boosting AUM by $2.7B
Beacon Pointe adds six RIAs in two-month acquisition spree, boosting AUM by $2.7B

The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.