Cetera saw some interesting advisor moves Thursday, with the firm welcoming a veteran advisor to its network alongside news of another group defecting to a rival firm.
On Thursday, Cetera welcomed Bart Schulte, an investment advisor representative with 24 years of experience, to its RIA Blueprint platform.
The veteran advisor, who oversees approximately $300 million in client AUM, previously managed client portfolios for almost seven years in his most recent role before Cetera, according to a statement.
"Owning and operating my own RIA is a longstanding career goal, and this affiliation with Cetera takes me one step closer to realizing this goal for the benefit of my business and my clients," Schulte said Thursday.
He highlighted Cetera’s custodial capabilities and technology as critical to his decision, saying they offer flexibility to support his practice today and in the future.
Kerry Pierce, senior managing director and head of advisory solutions at Cetera, highlighted how the firm’s RIA Blueprint platform offers advisors a much-needed guide when deciding on RIA ownership.
“As growth in the RIA space continues to accelerate, many financial advisors lack the guidance and infrastructure they need to establish a successful RIA,” Pierce said.
Meanwhile, Good Life, an LPL-affiliated RIA, announced Thursday that five advisors managing approximately $280 million in assets joined its network from Cetera. The group, representing three practices – Sewickley Wealth Management, Transitions Wealth Management, and Compass Wealth Management – will operate from a new Pittsburgh Area office in Sewickley, Pennsylvania.
The three practices each bring unique focuses and decades of experience to the Good Life community. John W. Sinclair II, leading Sewickley Wealth Management, has nearly 20 years of experience, with about half of that time spent as an independent advisor. Karen M. Bostick, founder of Transitions Wealth Management, began her career as an advisor in 2001 and established her practice in 2014, specializing in guiding individuals and small business owners through financial planning and retirement transitions.
Finally, Compass Wealth Management is led by James R. Greno Jr., Anthony J. Harris, and Robert J. Quarture III, who bring a combined 70 years of experience as they serve a range of clients with wealth management and business operations support.
Conor Delaney, CEO of Good Life, welcomed the group, emphasizing the company’s dual role as a fiduciary partner and a business advisor. “Advisors need the infrastructure and resources to serve the growing demand for personalized advice. They also need access to guidance and resources as business owners to be able to build what will likely become their greatest asset,” Delaney said.
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