Cetera Financial Group has added a seven-person advisory team from Commonwealth Financial Network, which oversees about $184 million in assets under administration. 

Greensboro, GA-based Piedmont Financial Partners, which was founded in 2016, includes father-and-son duo Howell Cullens and Nash Cullens and advisors Trey Rhodes and Nick Lyons. 

The team decided to move to Cetera, following LPL Financial’s takeover of Commonwealth, which closed in August. 

“It was obviously a surprise to us, so we started talking with a lot of broker-dealers – we liked how Cetera combines size and scale with a personalized approach, and we felt they were best for the long term,” Howell Cullens said. “I went into every broker-dealer conversation looking for negatives and a reason to say ‘no’ and that happened with many of them, but we never found a reason to say ‘no’ with Cetera.” 

The elder Cullen stated that with the help of Cetera’s GrowthLine program, it will advance his firm’s website and expand their digital marketing footprint. 

Cetera’s GrowthLine program, which is available to all Cetera advisors, is valued at $150,000 in services and is designed to promote clients’ value for advisors through “data, segmentation, AI, and technology,” Cetera said. 

Piedmont Financial Partners’ jump to Cetera marks yet another loss from Commonwealth as advisors continue to flee the firm following its sellout to LPL Financial. 

Prior to LPL’s acquisition of Commonwealth, Cetera penned two open letters to Commonwealth advisors, where Cetera’s president Todd Mackay, stated that the firm would provide help to advisors to avoid difficulties that could arise following the move to LPL. 

Recently, Cetera added Westford, MA-based CarrThaxton Financial Group from LPL Financial, where they managed about $350 million in client assets. 

Cetera Financial Group manages $625 billion in assets under administration and $284 billion in assets under management.