TRPG Acquires $185M Texas Wealth Manager
Cetera Holdings, the parent company of Cetera Financial Group, announced that Cetera’s employee-based RIA, The Retirement Planning Group (TRPG), has acquired Parrott Wealth Management, LLC.
Led by William Parrott, the Austin, TX-based firm managed approximately $185 million in assets as of December 31, 2023. Through the acquisition, three full-time professionals will become TRPG/Cetera employees.
“As TRPG’s growth trajectory continues, we expect to attract more independent advisors with similar aspirations to set their clients and businesses up for long-term success,” said Kevin Conard, CEO at TRPG.
The acquisition marks the fourth for TRPG since being acquired by Cetera in 2023. In August, the firm acquired $180 million Paramus, NJ-based RIA Watters Financial Services, In June, it bought $225 million Lee Financial Group Hawaii and in February it acquired Dightman Capital Group, Inc., an RIA based in Overland Park, KS.
Leawood, KS-based TRPG now oversees more than $2.6 billion in assets under management.
Cetera oversaw more than $521 billion in assets under administration and $224 billion in assets under management, as of June 30, 2024.
Pictured: William Parrott