Cetera Announces Joint Venture Within Tax Professional Community

News provided by

Nov 30, 2022, 13:01 ET

Farpointe Wealth Partners and DeLong & Brower Financial Services, a top Michigan-based advisory firm, align to deliver integrated wealth, tax and insurance offerings

LOS ANGELES, Nov. 30, 2022 /PRNewswire/ -- Cetera Financial Group, one of America's largest networks of financial professionals, announced today that Farpointe Wealth Partners (Farpointe), an independent firm within the Cetera Financial Specialists (CFS) community, has entered into a strategic joint venture with DeLong & Brower Financial Services (DBFS), a prominent wealth management, tax and insurance firm based in Holland, MI. The joint venture will align the firms to create a national network of tax, insurance and wealth management professionals. Under the agreement, DBFS will become a member of Farpointe's region within the broader Cetera network.

Farpointe and DBFS will partner to build a practice focused on integrated tax and wealth planning, recruiting new advisors and driving growth organically and through acquisitions. The venture also includes an anticipated strategic investment by Farpointe in DBFS' existing wealth management platform. The synergistic venture is based on the scalable, complementary services both firms offer, as well as the emergence of tax-oriented financial planning as a rapidly growing segment within the wealth management industry. Farpointe has a proprietary approach to practice management and expertise in recruiting, mergers and acquisitions, while the DBFS team will expand to service a broader, national client base.

"We applaud Farpointe and DBFS for making this joint venture a reality, and we are pleased to support them as they collaborate to grow their business and best serve client needs," said Ron Krueger, President of Cetera Financial Specialists. "This partnership is an example of Cetera bringing advisors and firms together to achieve mutual growth while defining new and innovative ways to help clients achieve their financial goals. We look forward to many shared successes as Farpointe and DBFS navigate clients and business owners through the intersection of financial advice, insurance and tax planning."

"DBFS' one-stop tax, wealth and insurance platform enables a fully integrated offering to clients, positions us well for additional future alliances, and sets us up to be the continuity solution for Farpointe's affiliated advisors and a seamless succession plan for professionals in need of an exit strategy," said Brian Stern, co-founder of Farpointe. "The joint venture also allows us to be in the market immediately with a world-class wealth, retirement and benefits platform for individuals and businesses."

DBFS Managing Partner Joe Johnson added, "Our partnership with Farpointe will allow us to help more clients and expand our tax and wealth planning approach to a national footprint. This type of venture is innovative in the industry and highlights Cetera's commitment to actively facilitating advisor growth through meaningful strategic alliances."

The joint venture is the latest example of Cetera's efforts to bring advisors together and invest alongside them to achieve success. In October, Cetera completed a minority investment into CCR Wealth Management, a $2.5 billion AUM practice led by top advisor David Borden, which is designed to help CCR Wealth Management accelerate it business growth. The partnership builds on a longstanding relationship between Cetera and CCR Wealth Management that started in 2000. Cetera also partners with advisors to provide a suite of succession solutions, including advisor-to-advisor support, business continuity solutions and practice monetization.

Farpointe, co-founded by Stern and Scott Rawlins, has 13 affiliated offices nationwide and became an independently owned business within Cetera's financial professional network in December 2020. DBFS was established and affiliated with CFS in 1999. Designed specifically for tax professionals who implement wealth management services into their practice – or are looking to do so – Cetera Financial Specialists offers a unique and consultative model that takes all aspects of an advisor's business into account. Click here for more information about Cetera Financial Specialists, click here to learn more about Farpointe, and click here to learn more about DBFS.

About Cetera Financial Group®

Cetera Financial Group (Cetera) is a leading financial services firm whose purpose is to enable the delivery of best-in-class financial advice to as many Americans as possible. Cetera empowers its financial professional communities to help clients achieve their version of financial wellbeing through the Advice-Centric Experience^®. Cetera proudly serves independent financial professionals, tax professionals, banks and credit unions in providing wide-ranging financial planning and wealth management services.

Cetera oversees approximately $353 billion in assets under administration and $122 billion in assets under management, as of December 31, 2021.

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

"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. All firms are FINRA/SIPC members. Located at: 655 W. Broadway, 11^th 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.

Brian Stern and Joel Johnson are financial advisors offering securities through Cetera Financial Specialists, LLC, member FINRA/SIPC. Advisory services offered through Cetera Investment Advisers, LLC.

SOURCE Cetera Financial Group