Genstar-Backed Cetera Buys $1.4B Kansas RIA  

Genstar Capital-backed Cetera Holdings, the parent company of broker/dealer network Cetera Financial Group, has acquired The Retirement Planning Group (TRPG), LLC., a Leawood, KS registered investment advisor overseeing $1.4 billion in assets. 

Los Angeles-based Cetera did not disclose the financial terms of the deal, but it announced it will bring on 40 employees, including 14 advisors, and 1,825 client accounts. 

The deal comes less than a month after the parent company named former Fidelity Investments executive Mike Durbin CEO. The firm said at the time it was bringing on Durbin to expand into “new markets and adjacencies to fuel continued growth and provide more options for advisors.” 

“This acquisition is synergistic on many levels and represents our commitment to constantly identify and deliver multiple options that give advisors a depth of choice and flexibility to affiliate their business with Cetera as they see fit,” said Durbin. 

Cetera Holdings has been a steady acquirer of independent advisories since its 2018 acquisition by Genstar. In January, the company acquired the retail wealth business of Securian Financial Group Inc., adding 1,000 financial professionals to its network across 30 independent firms. In April, it announced the addition of Minneapolis-based Rohlik Financial Group.  

TRPG is led by CEO Kevin Conard. The firm specializes in retirement planning, portfolio management, tax planning, estate planning and wealth management. 

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