Cetera Acquires Minority Stake in $2.5B CCR Wealth Management  

Cetera Financial Group has acquired a minority stake in CCR Wealth Management, a Boston area-based hybrid firm with $2.5 billion in client assets. The firm, which is run by veteran advisor David Borden, uses Cetera Advisors, one of Cetera’s independent broker/dealers, for brokerage business. 

“We are selective in the firms we support with this type of investment and are proud to partner with David, a proven and respected industry leader,” Cetera CEO Adam Antoniades said. 

Borden led CCR’s growth from a two-person firm to a full-service wealth advisory team with more than 35 team members, Cetera said. 

Cetera Financial Group oversaw approximately $122 billion in assets under management as of December 31, 2021. 

Cetera has also invested in the Costanzo Financial Group, a $500 million firm, which Cetera bought in March 2022; BAR Financial, a $4 billion super office of supervisory jurisdiction it acquired in January 2021; and MAGIS, an RIA with about $500 million, which it bought in March 2021.