New Post: Cetera Takes Minority Stake in $2.8B OSJ - Cetera Financial Group has made a minority investment in Wilde Wealth Management, one of the firm’s largest offices of supervisory jurisdiction affiliated with Cetera Advisors, with more than $2.8 billion in assets under administration. The Scottsdale, Ariz.-based OSJ has more than 42 advisors across nine locations in the Southwest. The firm was founded by CEO and Managing Principal Trevor Wilde, and affiliated with Cetera in 2007. Related: Atria Adds $175M Texas Team; Cetera Recruits $112M California Advisor"As a core pillar of our Wealth Hub model and offerings, we are constantly identifying opportunities to strategically partner with advisor practices to best support their business success through all stages," said Jeffrey Buchheister, CFO at Genstar Capital-backed Cetera, in a statement. "Through this partnership, we look forward to even closer collaboration with Wilde Wealth in achieving shared goals and growing together to benefit the Wilde Wealth team, advisors and their clients." The deal was made as part of Cetera’s suite of succession offerings, which includes advisor-to-advisor support, business continuity and full or partial sale options. The firm has done more than 12 such transactions in the past year. Related: Allworth Pens First Two Deals of 2024, Adding $621MOther independent broker/dealers have similar succession planning programs. LPL launched a 'liquidity and succession' program a couple years ago, where it will buy 100% of an advisor’s practice from a principal or principals who are generally expected to remain for about three years. Commonwealth recently expanded its Entrepreneurial Capital program, where it will take up to 40% of a firm’s earnings in exchange for capital. The firm is also considering taking majority stakes in Commonwealth advisor firms, although that’s not an offering yet. Last summer, Cetera Holdings, the holding company of Cetera Financial Group, announced its first acquisition of a pure RIA, The Retirement Planning Group. That move came less than a month after the company hired former Fidelity Investments senior executive Mike Durbin as its CEO, signaling an intention to move more seriously into the space. In December, Cetera's private equity owner Genstar Capital reinvested fresh capital into the broker/dealer network from two of its newest funds, Fund XI and Fund X. Cetera now serves more than 12,000 advisors, representing more than $475 billion in assets under administration and $190 billion in AUM, as of Dec. 20, 2023. #Cetera #Takes #Minority #Stake #2.8B #OSJhttps://lnkd.in/dmjBbhej
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New Post: Savant Moves into Florida with $440M FirstWave Financial - Savant Wealth Management has announced its fourth acquisition in a little more than a month, as the firm seeks to triple assets over the next four years. Rockford, Ill.-based Savant, a registered investment advisory firm currently overseeing some $25 billion in assets, has picked up FirstWave Financial, an RIA located an hour south of the Kennedy Space Center in Satellite Beach, Fla. Related: RIA Roundup: Savant Wealth Makes Largest Acquisition in History With $3.3B Capital DirectionsManaging about $440 million in assets for close to 250 clients, the 14-person team led by Laura Chiesman—a published author on the topic of succession planning—joined Savant on Jan. 1, following the close of the deal on New Year’s Eve. Terms were not disclosed, but Chiesman and four others have taken equity in Savant as part of the transaction, including Julie Allen, Leslie Carlson, Robert DeVries and Jamie Ostrander. “To continue to serve our clients and team well into the future at the high level we are committed to, we knew we would need a growth engine that not only offers comprehensive services, such as tax and estate planning, but that also has the important technology resources necessary to compete effectively,” Chiesman said. Related: Savant Lures New M&A Head From The Mather GroupThe FirstWave deal follows three transactions that Savant finalized at the end of November, including a set of South Carolina firms and $2.2 billion Bridgeworth Wealth Management. This latest one represents Savant’s 11th acquisition and its sixth entrance into a new state in the last year, bringing the firm to 39 offices in 15 states. “Florida is a key strategic area for Savant, since many of our clients spend their winters there,” according to Savant CEO Brent Brodeski. Minority owned by Kelso & Company since late 2021, Savant launched an expedited inorganic growth strategy in the summer of 2022 and has since grown assets by about $12 billion. Last year, the firm acquired Basil Financial Group in Chicago, Capital Directions in Atlanta, Domani Wealth in Lancaster, Pa., Paragon Financial Advisors in Columbia, S.C., The Relaxing Retirement Coach in Wellesley, Mass., and R.F. Book & Associates and Wealth Management Group in Dover, Del., adding a combined $10 billion in assets. #Savant #Moves #Florida #440M #FirstWave #Financialhttps://lnkd.in/gzjzUsvw
Savant Moves into Florida with $440M FirstWave Financial
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New Post: AmeriFlex Breaks Record with 60 Recruits, $2.75B in Assets in 2023 - The AmeriFlex Group, a Las Vegas-based and advisor-owned hybrid registered investment advisory firm, broker/dealer and office of supervisory jurisdiction affiliated with Osaic, ended 2023 more than a third of the way toward its goal of $25 billion in assets by the end of 2025. After welcoming 60 advisors managing more than $2.75 billion in cumulative assets, TAG closed the year with 153 advisors—nearly half the stated 2025 goal of 315—and more than $9.5 billion in advised assets, representing a 56% increase over last year. Through the second half of the year, the firm added advisors in 15 new states. CEO Tom Goodson said the majority of recruits, most of whom joined as solo practices or in pairs, came to AmeriFlex from 11 brokerage firms, including Principal Securities and Independent Financial Group. The largest firm to join was a team of eight. Related: RIA Roundup: AmeriFlex Group Adds 2 Teams, $500M AUM Goodson said TAG's model, which introduced its third affiliation channel late last year, attracts a "certain kind of advisor" who may feel neglected at a large broker/dealer. “They typically feel abandoned,” he said. “They feel like they're on an island. If they're attached to some of these very large broker/dealers, they're one of thousands. They're not getting the attention that they feel they deserve, which we feel they deserve too. So, they join us for community.” Related: OSJs Under Pressure to Do MoreAdvisors can affiliate through a standard model under which they retain branding, join TAG’s ADV and affiliate with Osaic for brokerage services. Another option, called SuccessionFlex, gives advisors the option to immediately sell 30% to 40% of their revenue stream at three times earnings under an agreement to sell the remainder to AmeriFlex at a future date. Almost 10% of TAG advisors are taking advantage of the succession program, Goodson noted, describing it as a “midpoint” in the journey toward retirement. “Those are folks that are typically one to three years away,” he said. “They’ll join us and then we start engineering that walk across a succession bridge.” Dubbed The AmeriFlex Group X, the third option is aimed at partnering with smaller OSJs—generally between five and 20 advisors—that are seeking scale, resources, cash or all three. It was initially called the 5Twenty Group. “I just want to say that we set up X before Elon Musk set up X,” Goodson said, explaining the model lets AmeriFlex to come in as an equity partner or super affiliate and help with everything from supervision compliance to operations, regulatory relationships and growth strategies. “These OSJs are waking up to the fact that they really don't own anything,” Goodson said. “They've been plugging along with this old infrastructure idea that they have value and the advisors, because o
AmeriFlex Breaks Record with 60 Recruits, $2.75B in Assets in 2023
dailylifefinance.com
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"Why are you against the wealth management Industry" We live in a world where one is getting judged all the time. And where people are quick to put labels, anti-this or anti-that. So this one was not surprising. Right since I wrote the first post, two years ago, highlighting the gaps, I started getting a good amount of pushback. As Serenity Wealth completes a year & stands at an important juncture with the impending launch of it's online-advisory, I decided to pen down my thoughts on the above... I am not "anti" anything or anyone. And definitely not the industry which has been an integral part of me for 25 odd years. I would like to argue that I am "for" the industry, for it's practitioners & for it's consumers. Just like the doctors oath, when a professional decides to become a wealth manager, there is an implicit oath they take that they will forever work towards protecting their clients interest. The client looks up to the wealth manager as someone who they can trust. Who will be on their side. This is not easy as the wealth manager is on someone else's rolls, who has the responsibility to build a profitable business. But it is not that tough either. As long as the wealth manager can control the element of greed, without dis-honoring one's time & effort and by charging what is fair. And in any case, which industry are we talking of? Which. - even after 10 years of the regulator allowing it to charge fee, continues on the commission model - reserves its fee-based models for a handful few & subjects the rest to commission-based product push model - until the regulator finally shut doors to last year, was upfronting several years income, knowing fully well that it led to the most perverse behavior - after committing a fee, tries innovative ways to earn more - which sells junk even to risk-averse investors These are not the signs of an Industry which can deliver on it's promise of helping its customers to efficiently allocate their savings. But for the handful of the fee-based RIAs, from my viewpoint, the rest of the Industry has not done anything noteworthy which can change its image of being only concerned with its bottom line. There are indeed those few wealth managers who have managed to withstand all pressures & stayed true to their clients. My respect to them. Arguments such as - this happens everywhere in every industry, or customers are not willing to pay a fee - are excuses. What matters is what you do in the position you are in. It is indeed a slippery slope, but whether you choose to slip or stay steadfast, is a choice you make. If you choose to slip, then it is your action which perhaps can be dubbed as anti-WM industry. It is tough building any business. Specially around the ideologies you cherish. You actually end up taking on additional headwinds. But if you persist on the road less travelled, chances are high that you encounter tailwinds which no one had factored in their business models.
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Spring is the perfect time to refresh your life, from your finances to your living space and outdoor areas. This time of year, we like to focus on the change in weather. As we’re peeking out the window to enjoy the green, we remember it’s time to spring clean. Here are a few items to review this spring: Budget and Expenses: Take a look at your budget and spending habits. Are there areas where you can cut back? Are you overspending in certain categories? Do you use all of your subscriptions? Credit Score: Review your credit report for any inaccurate information. A free copy can usually be requested from one of three major credit bureaus (Equifax, Experian, and TransUnion) and is a simple way to monitor your identity. Financial Documents: Organize your financial documents, including bank statements, tax returns, investment statements, and insurance policies. Shred any outdated or unnecessary documents to reduce clutter. TIP: If you are a Landmark client, have you used your Landmark Portal? It’s a secure place to store all your important documents. Goal Setting: Set a new goal for the year ahead to guide your saving and spending decisions. Maybe it’s increasing the contribution to your retirement account, saving for that once in a lifetime trip or cutting back on dining out. Will and Estate Plan: Review your will and estate plan to ensure they reflect your current wishes. Update beneficiaries as needed and consider any changes in your financial or personal circumstances. To learn more about Landmark Wealth Management Group (“Landmark”) and read conditions and disclosures, visit https://lnkd.in/gTCnXsH2
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📅 Invitation to all Wealth Managers 📌 I'm delighted to be presenting on behalf of Praetura Investments at two events next month, in Manchester and Leeds. 1. Manchester - Thursday 4th July 2. Leeds - Thursday 11th July I’ll be on stage, alongside the team from Timeline and Just Group plc. Each workshop will dive into the FCA Thematic Review and its impact on wealth management; covering key phases in accumulation, decumulation, and succession planning. Agenda: Understand the FCA's expectations for later-life planning, including retirement income, cash flow modelling, and estate planning. Ensure you're equipped to meet these standards and support your clients effectively. - Accumulation and Decumulation: Best practices for guiding clients - Cash Flow Modelling: Creating robust financial plans for sustainable retirement income - FCA Thematic Review: Key findings and implications for succession planning - Estate Planning: Strategies to meet clients' needs in later life Full details below, along with the respective registration links... Event Details - Manchester: 📍 Location: Malmaison, 1-3 Piccadilly, Manchester, M1 3AQ 🗓️ Date: Thursday 4th July ⏰ Time: 8:30am – 11am (Breakfast at 9am) 🔗 Registration: https://lnkd.in/eVDw6dGD Event Details – Leeds: 📍 Location: Malmaison, 1 Swinegate, Leeds, LS1 4AG 🗓️ Date: Thursday 11th July ⏰ Time: 8:30am – 11am (Breakfast at 9am) 🔗 Registration: https://lnkd.in/eeft6v6N Lewis Roddy Mark Hopcroft, MBA Louise White Tim Field Scott McCormack Please note: The events are designed for investment professionals only. Investor's capital may be at risk. Past performance is no guarantee of future returns. Tax benefits are subject to change and depend on the individual's circumstances. Seek financial advice
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Empowering Business Owners as a Professional Speaker | Partner at Big Life Financial | Your Guide to Generational Wealth| Crafting Legacies Beyond Wealth
🏀 Wealth Management is Like Sports! 🏀 Specializing in one sport until you reach the highest level often leads to injuries and burnout. Those who maintain their spot at the top do so because they’re diversified in their movement, rest patterns, and overall health. On the surface, it might look like they only play one sport, but behind the scenes, it’s weight training, sleep, recreation, nutrition, and more. The same applies to your wealth strategy. How often have you heard: "Business owners make their money in business and store it in real estate." "The wealthy buy real estate." "Buy term and invest the difference." "Index funds are all you need." "Life insurance is better than your 401K." These pieces of advice are often designed to make us specialize our wealth. Does it work for some? Sure—just like some athletes who specialize from young ages reach the professional ranks. But does it have the highest probability of success? No. Just like most who specialize often flame out before they ever even sniff the highest of levels. Be cautious of advisors who claim to diversify your portfolio, but really only diversify within one asset class, like public markets. Or, relying on just one accountant could mean you’ve specialized your tax planning without realizing it. This can leave you vulnerable. Instead, take a broader approach: 🏆 Use multiple strategies: stocks, real estate, whole life insurance, private equity, your business, tax planning, automation, risk management, etc. 🏆 Build a comprehensive team, not just one advisor but an entire team of professionals working in harmony: tax professionals, wealth managers, business coaches, estate planners, and exit strategists. 🏆 Change your perspective—stop viewing the product or investment as the solution and realize that YOU are the solution. Cast a big vision and go make it happen I’m not saying don’t become extraordinary at one thing—just like elite athletes who are world-class in their field—but don’t neglect everything else. Specialization has a lower chance of success than having a holistic menu of tax and financial solutions. Just like athletes who diversify their training to strengthen their overall performance, a balanced financial strategy involving multiple solutions is what will truly set you up for long-term success. 💬 Question: Are you diversifying your financial strategy with multiple advisors and approaches, or are you still relying on just one? How can you take a more comprehensive view? Let me know your thoughts below! 👉 Read the full blog for deeper insights! [Blog link in comments]
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📶 How to Start Investing with Segregated Funds Thinking about investing but want a mix of growth potential and protection? Segregated Funds might be the solution you’ve been looking for. Whether you're an individual, a family, a small business owner, or planning for retirement, segregated funds offer unique benefits that set them apart from mutual funds or traditional investments. Here’s how you can get started: ✅Understand What Segregated Funds Are Segregated funds are investment products offered by insurance companies. They function similarly to mutual funds, pooling money from many investors into a diversified portfolio of stocks and bonds. The big difference? Segregated funds come with an insurance guarantee on your principal, which can protect your investment from market downturns. ✅Choose the Right Fund for Your Goals Segregated funds offer a wide range of investment options, from conservative to aggressive growth strategies. Whether your goal is to build a nest egg, save for a major purchase, or generate income in retirement, there’s a segregated fund that aligns with your risk tolerance and time horizon. ✅Benefit from Creditor Protection If you're a small business owner or self-employed, segregated funds offer a key advantage: creditor protection. In the event of bankruptcy or financial difficulties, your segregated funds may be protected from creditors, providing added security for your hard-earned savings. ✅Leverage Estate Planning Advantages Segregated funds allow you to name a beneficiary, bypassing probate and speeding up the transfer of wealth to your loved ones. This makes them a smart tool for estate planning, ensuring that your assets are passed on efficiently. ✅Start with Small Contributions You don’t need a large sum to get started. Many segregated fund providers offer flexible contribution options, making it easy to begin investing with whatever amount you're comfortable with. Over time, small, consistent contributions can add up to significant growth. Investing with segregated funds is a great way to balance growth potential with financial security. They provide a unique blend of investment returns, insurance protection, and estate planning benefits. Sometimes it’s better to get a professional opinion when it comes to financial planning. You can get a one-on-one complimentary session with us to learn more about how segregated funds can fit into your financial strategy. 👉 Follow for more content like this or share with a friend who could benefit from learning about the advantages of segregated funds!
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"LPL Financial LLC announced today that financial advisors Tim Woodall and Dustin Raring launched a new independent practice, Highway One Capital, through affiliation with LPL Financial’s supported independence model, LPL Strategic Wealth Services. The team reported having served approximately $500 million in advisory, brokerage and retirement plan assets* and joins LPL from First Republic, now part of JPMorgan Chase." #PrivateWealth #WealthManagement #RealAssets #PrivateMarkets #AlternativeInvestments #Alts #UHNW #HNW #FamilyOffices #IBD #RIA #PrivateInvestments
Highway One Capital Launches With Support From LPL Strategic Wealth Services
globenewswire.com
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Getting my schedule locked in for Wealth Management EDGE. The more I look at speakers and sessions - the more excited I get. I would be remiss if I didn't say to all the young tenured/next gen advisors - a little prep goes a long way! A few things I'm exited for: 👇 Dennis Morton, CFP® is giving a talk on growth stories. Hearing from someone who's where I hope to be in 10+ years and how they got there from a growth standpoint will be invaluable. Looking forward to this one for real! (Monday at 2:20 p.m.) Michael Kitces & Jason M. Pereira have a "hot ones" inspired session. Wed at 9 a.m. (Spicy wings for brekkie...nice!) As past winner of Institute of Advanced Financial Planners - IAFP's hot wings competition I have a professional interest. 😏 Real talk - two of the smartest planners in North America. It's worth it. Samantha Russell is hosting a lunch and learn on Wed. at 12:30 p.m. on the biggest mistakes advisors make on social. (Here's hoping I'm not the case study 👀) Samantha - do we need to register in advance? Because i have a feeling this one's gonna be standing room only! I'm super torn between Lawrence Sprung, CFP® discussing retirement strategies for clients in that phase of life. (He lives the idea of looking for JOY) with Matt Halloran discussing tech stack case studies for streamlining & scaling. Anyone wanna swap notes? 😭 Wed at 1:50p.m. ! I would be remiss if I didn't highlight the fact that I get to hang out with fellow Financial Planning Association of Canada members Markus Muhs, CFP®, CIM®, Carlo Valle 🧔🏽, & Jason Pereira. If you are a Canadian down at Edge come ask us what the cool Canadians are up to! Finally - got a few ELEVATE meetings lined up with various advisors and a few vendors as well. I'm looking forward to learning from people and soaking in all the information. (Yes...I love meeting people. What can I say 🤷♂️) More tidbits to come! See you all soon!
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Alexforbes’ acquisition of OUTvest from OUTsurance will help it better serve independent financial #advisers and grow into the direct-to-customer space, according to Viresh Maharaj. #IFAs #investmentplatform #financialadvisers #advisors
Alexforbes: Outvest acquisition to help with IFA growth
citywire.com
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