The Retirement Planning Group says aloha to Lee Financial Group Hawaii

The Retirement Planning Group says aloha to Lee Financial Group Hawaii
Cetera’s employee-based RIA’s second acquisition in 2024 brings six new employees and roughly $225M in AUM.
JUN 05, 2024

The Cetera Financial Group has just strengthened its presence in Hawaii as the wealth hub’s employee-based RIA makes its second acquisition for the year.

The Retirement Planning Group has announced its acquisition of Lee Financial Group Hawaii. The deal, which was unveiled on Tuesday, brings an additional $225 million in assets under management to TRPG.

Lee Financial Group, founded and led by Terry Lee, specializes in investment management and financial planning services for clients in Hawaii and beyond.

"We are pleased to welcome Terry, his talented team, and their clients to TRPG," Kevin Conard, CEO of TRPG, said in a statement. "The Lee Financial team's commitment to putting clients first aligns with our core values, and we look forward to many shared successes to come."

Six employees from Lee Financial Group will come under the umbrella of TRPG, whose business spans over $2 billion in assets for more than 2,000 clients.

Lee, who will stay involved as a consultant for TRPG, sees his firm’s integration as a strategic fit.

“As we looked to the future for our business, team, and clients, we knew finding the right long-term partner would take time as we were very selective in our search and consideration process," he said. “[I]t became clear this choice made sense on many levels for everyone affiliated with Lee Financial,” he said.

TRPG’s RIA integration strategy began in earnest in February when it acquired 100 percent of the assets of the Dightman Capital Group. That strategy is itself part of Cetera’s broader push to expand its share of the RIA market, a master plan that developed after Mike Durbin’s appointment as the firm’s chief executive.

Cetera made another expansionary move in the Aloha State in March when it forged a strategic partnership with Hawaii State Federal Credit Union, the largest credit union in Hawaii, whose investment services program held almost $400 million in assets.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

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.