Cetera has bolstered its wealth advisor network with the addition of a South Carolina-based financial planning practice.
Regal Wealth Advisors, a practice with more than $312 million in assets under administration, has joined Summit Financial Networks, which is part of Cetera Advisor Networks, a broker-dealer subsidiary of Cetera.
The move, which took effect February 2, marks a significant transition for the Myrtle Beach, South Carolina-based firm, from LPL Financial to Cetera.
Regal Wealth Advisors was co-founded by Michael McCarthy and Andrew S. Pincus, who are coming over to Cetera along with long-time investment professional Fred DaVeiga.
“At Regal Wealth Advisors, we differentiate ourselves by providing personalized attention to our clients – and we know we can expect the same from Summit,” McCarthy said in a statement, expressing enthusiasm about the transition.
McCarthy, a veteran of the industry with 30 years of experience, oversees financial planning, investment programs, and the development of financial strategies including estate and business succession plans.
Pincus uses his deep understanding of financial and tax planning to create holistic financial plans that encompass all aspects of the lives of their clients.
Rounding out the team, DaVeiga uses his experience across multiple finance and accounting sectors to work with individuals, families, and businesses, as well as their trusted tax and legal professionals.
“I am happy to welcome Michael, Andrew and the entire Regal Wealth team to our network of more than 4,000 talented advisors,” said Marshall Leeds, president and regional director of Summit Financial Networks.
Cetera is adding the Regal Wealth Advisors team to its network shortly after it welcomed another veteran financial professional, Don McDonald, to its ranks from Triad Advisors.
Prior to that, Cetera signed on New Jersey-based advisory team Rosso Financial Group – which includes five advisors with a combined 80 years of industry experience – from Newbridge.
Earlier this year, Cetera CEO Mike Durbin expressed optimism about the future of its financial advisor wealth hub following a significant reinvestment by private equity firm Genstar Capital in the business.
“Genstar’s partnership has propelled growth for Cetera for several years, and we look forward to even bigger things to come in the next chapter together,” Durbin said at the time.
Advisors say record balances aren't a retirement income plan and urge clients to benchmark their lives, not an index
Wealth enterprises are leaving revenue on the table - a new PureFacts and Ascentix partnership aims to help firms take it back.
What if one investment decision could create tax-saving opportunities across your entire portfolio? Chris Vizzi shares how the Stacking Strategy helps investors align tax planning, portfolio construction, and wealth preservation to maximize long-term outcomes while keeping more of what they earn.
Buyers spending on AI may treat less efficient sellers as overstaffed and price the cost of rightsizing into lower offers
Kenneth Leech pleaded guilty in June to one obstruction charge, and could face six to 12 months in prison.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
