Michael Hall and Michael Ostdiek Join Cetera Advisor Networks

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Feb 28, 2023, 08:00 ET

$128 million practice joins Cetera Advisor Networks from Woodbury Financial Services

LOS ANGELES, Feb. 28, 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 Michael Hall, financial advisor, and Michael Ostdiek, registered representative, have joined Cetera Advisor Networks via AdvisorNet. The duo manages approximately $128 million in assets under administration, as of January 30, 2023*, and come from Woodbury Financial Services. Hall and Ostdiek bring more than 50 years of combined financial experience in capital preservation, financial plan creation, and wealth and portfolio management. They are passionate about educating clients on a variety of scenarios and options to help make strong and informed investment decisions.

"We are thrilled to welcome Michael and Michael to Cetera, where we're confident they will have the technology and resources to continue building their robust client portfolio," said John Pierce, Cetera's head of business development. "AdvisorNet's structure reinforces independence for advisors while providing the expertise and capabilities to fuel exponential business growth, and we look forward to opportunities to reach and exceed our collective goals together."

Hall and Ostdiek represent the latest recruiting win for Cetera, which achieved record organic recruiting results in 2022, attracting $13 billion in assets under administration.

Click here to learn more about Cetera Advisor Networks.

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.

*Value approximated based on asset holding details provided to Cetera up to January 30, 2023.

SOURCE Cetera Financial Group