Cetera Announces Acquisition of Powell Financial Partners

News provided by

Aug 03, 2023, 10:03 ET

Father-daughter team strategically plans for the long-term future of its business with support from Cetera

Transaction represents latest example of Cetera's succession planning support for advisors

LOS ANGELES, Aug. 3, 2023 /PRNewswire/ -- Cetera Financial Group, the premier financial advisor Wealth Hub, announced today that it recently acquired Powell Financial Partners, a Georgetown, Texas-based independent wealth management firm. Powell Financial Partners is led by father-daughter team Mickey Powell, CRPC^®, and Jennifer Powell, who are affiliated with Cetera Wealth Partners, a community that is part of Cetera Advisor Networks. The acquisition represents the latest evidence of Cetera's strategic plan and effort to support advisors throughout their professional lifecycles, and a timely example of Cetera's succession planning capabilities, including advisor-to-advisor support, business continuity solutions and practice monetization.

"For the last several years, we have been positioning our business to consistently and securely meet the needs of our clients first and foremost," said Mickey Powell, the founding investment advisor representative for Powell Financial. "We have many financial plans in place that we actively monitor and manage, alongside our clients, to help provide the financial security clients need in their retirement years. Cetera provides us the ability to focus more time on what matters most – doing the best job planning and serving our clients."

"At Powell Financial, we pride ourselves on our collaborative and family-first approach, which we see reflected at Cetera as well," said Jennifer Powell, investment advisor representative and partner at Powell Financial Partners. "With support from Cetera, we are positioned well to continue to strategically grow our business and help clients realize their financial goals."

The Powell Financial team is focused on executing its long-term strategic plan, which includes Mickey continuing to work with clients in the coming years to help guide them into their retirement years with thoughtful retirement plans in place. Jennifer works with clients as a trusted advisor, coordinating planning, client reviews, and practice operations. A registered assistant and senior relationship manager with more than 18 years of industry experience rounds out the team of three financial professionals at Powell Financial Partners.

"Mickey and Jennifer are a shining example of a dedicated and collaborative team that places client interests above all else," said Tom Halloran, president of Cetera Wealth Partners. "This partnership represents a closer collaboration that we believe will drive positive results for the Powell team and their clients as part of the Cetera Wealth Partners family. We are honored to partner with the talented Powell Financial team as key leaders at Cetera Wealth Partners, where they are poised for a prosperous future."

Mickey and Jennifer Powell have been affiliated with Cetera Wealth Partners since 2021. Cetera Wealth Partners was created in the same year through the acquisition of assets related to Voya Financial Advisors' independent financial planning channel.

Visit www.cetera.com and https://www.powellfinancialpartners.com/ for more information.

About Cetera Financial Group^®

Cetera Financial Group (Cetera) is the premier financial advisor Wealth Hub where financial advisors and institutions optimize their control and value creation. Breaking away from a commoditized and homogenous IBD model, Cetera offers financial professionals and institutions the latest solutions, support, and services to grow, scale, or transition with a merger, sale, investment, or succession plan. Cetera proudly serves independent financial advisors, tax professionals, licensed administrators, large enterprises, as well as institutions, such as banks and credit unions, providing an established and repeatable blueprint for scalable growth.

Home to more than 8,000 financial professionals and their teams, Cetera oversees approximately $330 billion in assets under administration and $116 billion in assets under management, as of March 31, 2023. In a recent advisor satisfaction survey of more than 21,000 reviews, Cetera's Voice of Customer (VoC) program vigorously measures advisor experience and satisfaction 24/7. Currently, it's ranked 4.8 out of 5 stars.

Visit www.cetera.com, and follow Cetera on LinkedIn, YouTube, Twitter and Facebook.

"Cetera Financial Group" refers to the network of independent retail firms encompassing registered investment advisers and the following broker dealers that are FINRA/SIPC members: Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. Located at: 655 W. Broadway, 11th Floor, San Diego, CA 92101.

Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.

Mickey and Jennifer Powell are Registered Representatives offering securities services through Cetera Advisor Networks LLC, member FINRA/SIPC, a broker/dealer and advisory services through its affiliate Cetera Investment Advisors LLC, a Registered Investment Adviser. Cetera is under separate ownership from any other named entity.

SOURCE Cetera Financial Group