Cetera Investment Services Celebrates Banner Year in 2022
Cetera community focused on serving banks and credit unions attracts record number of affiliations
LOS ANGELES, Feb. 15, 2023 /PRNewswire/ -- Cetera Financial Group (Cetera), an at-scale wealth hub that offers financial professionals and institutions the latest solutions, support and services, announced today that Cetera Investment Services celebrated a record year in 2022. Cetera Investment Services partners closely with banks and credit unions of all sizes across the United States, including bank and credit union-owned broker dealers, to strengthen their programs, ties to the community, and the wellbeing of their clients and members. Cetera Investment Services onboarded a record 11 financial institutions that collectively oversee $4.98 billion in assets under administration for customers and members through December 31, 2022. Affiliating with Cetera Investment Services empowers the institutions to deliver greater client and member service, optimize efficiency, achieve accelerated growth and provide enhanced wealth management services.
"Our record 2022 results are a testament to our team approach, our clients and our reputation as the affiliation partner of choice for financial institutions looking to enrich client experience and elevate their business," said LeAnn Rummel, president and CEO of Cetera Investment Services. "As financial institutions increasingly recognize the value that Cetera Investment Services can add to their businesses, we expect to establish even more financial institution relationships in 2023. We encourage any financial institution seeking to accelerate their growth plans and enhance their wealth management business to consider Cetera Investment Services for their long-term needs."
Connie Gregory, head of new business development for financial institutions at Cetera, added, "Cetera's industry-leading technology platforms are driving tangible growth and expanding advisory services for these institutions and their financial professionals, and we look forward to long-term, continued collaboration. Our team is inspired by our results in 2022 and poised to build on this momentum this year as we aim to deliver Cetera's leading technology, solutions and support to more financial institutions."
Among 2022 highlights, Cetera Investment Services finalized a strategic relationship with Hancock Whitney, a large bank with offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas. Under the partnership, Cetera Investment Services provides enhanced investment and insurance solutions and investment advisory services through financial consultants in Hancock Whitney's branch locations.
In addition to record 2022 results for Cetera Investment Services, organic recruiting efforts of financial advisors across Cetera communities attracted a record $13 billion in 2022.
About Cetera Financial Group®
An at-scale wealth hub, Cetera Financial Group (Cetera) offers financial professionals and institutions the latest solutions, support, and services. Breaking away from a commoditized and homogenous IBD model, Cetera instead creatively addresses advisors' and institutions' unique needs, whether they are seeking 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.
Cetera's approach empowers advisors to affiliate in whichever way they deem most appropriate. During the professional life cycle of their practice, the Cetera wealth hub ensures each advisor's affiliation model identifies and ignites growth levers in a way that maximizes the value of their practice, people, and legacy. Cetera delivers holistic, unbiased financial planning and advice to Main Street investors, helping them achieve their version of financial wellbeing at all life stages. For financial professionals, Cetera provides growth and succession resources, an enhanced advisor tech stack and importantly, an experience where financial professionals don't feel like a number, but an integral part of Cetera's rich and thriving ecosystem.
Home to more than 8,000 financial professionals and their teams, Cetera oversees approximately $322 billion in assets under administration and $115 billion in assets under management, as of December 31, 2022. In a recent advisor satisfaction survey of more than 14,000 reviews, Cetera's Voice of Customer (VoC) program vigorously measures advisor experience and satisfaction 24/7. Currently, it's ranked 4.7 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, 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, 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.
SOURCE Cetera Financial Group
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