Cetera Financial Adds $300M Tennessee RIA

Cetera Financial has added a Tennessee-based wealth management firm to its employee-advisor registered investment advisory division, also expanding Cetera’s footprint in the state. 

Johnson City, TN-based Marmo Financial Group, founded by principal advisor Scott Marmo, oversees about $300 million in assets under management across 620 clients. 

As part of the transaction, the eight-person team has joined Cetera Planning Partners, and Cetera will continue operating the Marmo Financial Group office. 

Additionally, Marmo Financial Group members will become W-2 employees under Cetera’s branding, Cetera said. 

“What ultimately brought me to Cetera was the combination of that culture fit with the ability to add in-house estate planning, legal support, and CPA services, which are capabilities our clients have been asking for,” Marmo said. 

Marmo also stated that he and his firm made the transition to Cetera following a “months-long evaluation” because of its “culture, the depth of its integrated service platform, and the opportunity to provide his clients with an expanded suite of financial planning capabilities” under one platform. 

Cetera Planning Partners combines Avantax Planning Partners and The Retirement Planning Group and has about $19 billion in assets under advisement as of March 31, according to the firm. 

Earlier this month, Cetera Financial added Edina, MN-based MTI Financial Advisors, which oversees $350 million in assets under management, to its multi-affiliation model, Summit Financial Networks. 

Cetera Financial Group manages $630 billion in assets under administration and $296 billion in assets under management, as of March 31, the firm said.  

Pictured: Scott Marmo