Cetera Adds $600M Team from B. Riley 

Veteran financial advisor Michael Zawatsky and his seven-person team at Oasis Asset Management Group, Inc. have joined Cetera Financial Group’s Summit Financial Networks from B. Riley Wealth Advisors, Inc. The team oversees approximately $600 million in assets under administration. 

Based near Cleveland, Oasis Asset Management includes five financial advisors and two support staff. Zawatsky said Cetera’s combination of scale and Summit’s boutique feel drove the decision: “We talked with several firms, but with Cetera we felt a strong sense of stability because of its size along with the small-firm feel of Summit which provides the boutique services we’re used to, and that was really the final factor in our choosing Cetera and Summit.” He added that the team’s home office visit to Summit in Boca Raton was pivotal. 

Zawatsky emphasized that the firm’s client philosophy aligned closely with Summit’s: “Our mentality is we don’t care if someone’s got $50,000 or $50 million, we treat them the exact same way; Cetera and Summit are very supportive in that regard.” 

The move adds to Cetera’s recent recruiting momentum. In August alone, Summit Financial Networks has expanded its platform by over $600 million in new advisor assets, including the addition of financial advisor Matthew Flynn and his seven-person team with $228 million in client assets, and Susan Wilkinson’s 12-person team at Wilkinson Wealth Management, LLC, which brought $380 million from LPL Financial’s Private Advisor Group.