HBW Partners will wind down 55-person B-D and join Cetera

HBW Partners, a Simi, Calif.-based financial holding company, is winding down its HBW Securities independent broker-dealer and transitioning the firm to Cetera Advisor Networks. HBW's adviser-facing home-office staff and its 55 independent financial advisers across the country, who collectively support approximately $820 million in advisory and brokerage assets, are involved in the move, Cetera said in a release. Founded in 1991, HBW Partners will affiliate with Cetera Advisor Networks as what it calls "a regional director-led firm." The move was motivated by a desire to "keep the most-beloved features of our firm while eliminating the surging regulatory burdens associated with being a broker-dealer," said Barney Hellenbrand, HBW's chief executive.