LA Federal Credit Union Shifts $160M AUA from LPL’s CFS to Cetera
Los Angeles Federal Credit Union (LAFCU), which manages approximately $160 million in assets under administration through its LAFCU Wealth Management program, has transitioned its wealth management platform from CUSO Financial Services (CFS), an LPL Financial affiliate, to Cetera Financial Institutions. The move includes two financial advisors, Steven Liang and John Herrera, who have joined Cetera’s platform.
LAFCU, which serves over 75,000 members across the Greater Los Angeles area, cited Cetera’s advanced technology, flexible affiliation model, and commitment to member-centric service as key factors in the decision. Anthony Cuevas, president and CEO of LAFCU, noted that the partnership with Cetera offers the freedom to run a customized wealth management program with top-tier support and infrastructure.
The switch marks another institutional win for Cetera, a community within Cetera Investment Services, which has recently added other credit union partners including Hawaii State FCU, California Coast CU, and Citadel CU. Cetera Financial Institutions currently supports more than 450 banks and credit unions and boasts a 99% retention rate across its institutional relationships.
