Cetera Financial Group Added Nearly $3B in AUA in Q1 Through Organic Recruiting Efforts

Independent broker-dealer Cetera Financial Group amassed nearly $3 billion in assets under administration in the first quarter of 2023 through its organic recruiting efforts. 

The new recruits included: the Rohlik Financial Group, which joined Cetera Advisor Networks through AdvisorNet Financial, with nearly $1 billion in assets under administration; three teams that managed a roughly combined $610 million joined Cetera Advisors through Totus Wealth Management; Wooster Square Advisors, with $250 million in assets, and True Wealth Advisor Group, with $206 million in assets, joined through Cetera Wealth Partners; and Adam Rekasie, who manages about $106 million, joined Cetera’s branch community, Cetera Investors. 

The company said its success is a product of advisors seeking independence and valuing its offerings. 

“Cetera is positioned well to help advisors navigate today’s changes as a trusted wealth hub partner. We expect continued positive momentum as advisors appreciate the value in Cetera’s growth and succession resources, enhanced advisor tech stack and a personalized experience where they never feel like a number,” said Tom Taylor, chief sales and growth officer at Cetera. 

Cetera also brought on two financial institution programs: Mechanics Investment Services and UNCLE Wealth Management. 

In 2022, Cetera onboarded a record $13 billion in organic recruiting assets, while Cetera Investment Services added 11 financial institutions. 

The company said it had more than 8,000 professionals overseeing a total of about $322 billion in assets under administration and $115 billion in assets under management as of the end of 2022.