Cetera Makes Minority Investment in $350 Million AUA NetVEST Financial LLC; Practice Led by Industry Veteran John M. Cartolano

Investment represents strategic solution that provides flexibility and choice for NetVEST as it plans the next chapter of its business   

Several investments in advisor practices in recent months underscore Cetera's Wealth Hub and commitment to supporting advisors throughout their professional lifecycles

LOS ANGELES, April 11, 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 it has made a strategic, minority investment in NetVEST Financial, LLC (NetVEST), an independent wealth and estate management firm in Scottsdale, Arizona, which oversees approximately $350 million in assets under administration (AUA) through Cetera Advisor Networks LLC, as of March 31, 2023. The investment provides a strategic and flexible solution for NetVEST as the firm looks to the future for its clients and the next chapter for its business. NetVEST is owned and operated by founder and branch manager John M. Cartolano*, who is affiliated with Cetera Advisor Networks LLC. A financial services industry veteran, Cartolano has been providing tax-advantaged investment, financial, retirement, and estate planning strategies and services for more than 30 years. 

"We are pleased to support John and his team in identifying a mutually beneficial solution that helps maximize the value of NetVEST while providing flexibility and choice for the future," said Tom Taylor, chief sales and growth officer at Cetera. "As we continue to serve as a wealth hub and meet advisors where they are, it is important that our advisors know that Cetera is here to support them through all stages of their careers to address wide-ranging needs and help solve today's most pressing challenges."

"This collaboration reminds us that our business and our clients are in great hands with Cetera, and we look forward to close collaboration with the Cetera team," Cartolano said. "The investment positions NetVEST to achieve continued growth and to deliver even greater client service while providing flexibility to strategically manage our business for the long term. As we look to the future for our business and our clients, this sets us up for continued success and represents a complementary evolution of our business with Cetera. It also provides the opportunity for local financial professionals to consider joining NetVEST as either employees or independent advisors seeking to maximize their practices by leveraging our proven growth strategies."

Cetera has made several investments in advisor practices in recent months. These investments position Cetera for growth, hedging the impact of market volatility and economic uncertainty for Cetera and its advisors. Cetera provides a suite of succession solutions, including advisor-to-advisor support, business continuity solutions and practice monetization. In addition, Cetera's partner practice program provides select advisors the option to have Cetera invest in a minority stake in their firm and utilize agile, proprietary growth solutions and technology to grow their business.

Visit www.netvestllc.com and www.cetera.com for more information.

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 helps to ensure each advisor's affiliation model identifies and ignites growth levers in a way that helps increase 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, 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.

*Securities and investment advisory services offered through Cetera Advisor Networks LLC (doing business in CA as CFGAN Insurance Agency LLC) Member FINRA/SIPC, a broker/dealer and Registered Investment Adviser. Additional advisory services are offered through NetVEST Financial, LLC. Cetera is under separate ownership from any other named entity.

SOURCE Cetera Financial Group