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Bank program managing $475 million joins LPL
C&N Wealth Management, a unit of Pennsylvania-based Citizens & Northern Corp., will use LPL’s institutional platform.
LPL snags $850 million Securian team in wake of Cetera deal
Toledo, Ohio-based Financial Design Group has 14 advisors. Over the winter, recruiters had cited LPL as one of the firms likely to target Securian advisors.
Cetera to advisors: Selling your practice requires our OK
If financial advisors don't seek the firm's approval, they risk running afoul of securities regulators, Cetera said.
Cetera’s credit outlook gets boost from Moody’s
The rating agency cites the positive impact of the firm's deal to acquire the wealth management business of Securian Financial Group.
Transamerica partners with Cetera on pooled retirement plan
Cetera Advantage(k) GPS is designed for small and midsize businesses and available only through advisors affiliated with Cetera.
Cetera CEO Antoniades enthusiastic about Securian pickup
But the deal raises the possibility other firms may go after the Securian advisors; Cetera and LPL have faced off in the past over recruiting advisors amid an acquisition.
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.
Expect giant branch offices at IBDs to flex their muscle
There are plenty of private equity managers left who could still invest in large branch offices of independent broker-dealers.
B-D SPAC deal takes shape; Larry Roth to have lead role
When aggregator Wentworth Management Services goes public by merging with a SPAC, Kingswood, sometime in the next few months, industry veteran Roth will serve as chairman.
Cetera closes broker-dealer First Allied Securities
San Diego-based First Allied had close to 600 brokers and financial advisers under its roof before the Covid-19 pandemic.
Commonwealth becomes latest IBD to invest in adviser firms
The firm is introducing an effort to buy minority stakes in the financial advisory firms that use its brokerage and RIA services.
LPL buying one of its own giant branches
South Carolina-based Financial Resources Group Investment Services houses bank brokers overseeing $40 billion in assets.
Cetera takes minority stake in $2.5 billion firm
The firm is investing in a Boston-area-based firm that's been affiliated with Cetera since 2000; it suggests such investments could provide a new option for broker-dealers.
Fintech Bytes: Cetera using Broadridge’s new tech, Orion reorganizes
A roundup of the week's fintech news includes Cetera's adoption of Broadridge's new digital communications tool, Orion's reorganization and Morningstar's attempt to make sustainable investing more engaging.
Team managing $140 million joins Cetera from Commonwealth
Bruce and Dawn Cramer of Cramer Capital Management in Kansas City, Missouri, make return trip to the firm after eight years.
Cetera Financial Group hacked via printing vendor
The 'external system breach' put the Social Security numbers of 2,188 of the firm's clients at risk, according to the Maine Attorney General's office.
Cetera adds teams managing almost $400 million
Sonnenfeld Financial Group is based in Minnesota and Lincoln Capital Inc. in San Diego.
Reg BI turns 2, but not everyone is celebrating
Over the years, some have become convinced Reg BI is a significant step up from brokers’ previous suitability standard. Others remain skeptical that it’s tough enough to curb broker conflicts.
Fee revenue surged at the largest IBDs last year
For more than two decades, the brokerage industry has touted its plans to shift to a fee-based business model, which is less volatile than the up-and-down cycles of sales of high-commission products.
Cetera B-D on hook for $2.66 million arbitration claim stemming from REITs, annuities
In an unusual aspect of the investors' claim and subsequent award against First Allied Securities, the $2.66 million in damages requested matched the amount the three arbitrators awarded.
