With Voya Deal, Cetera Nears ‘Critical Mass’ to Go Public: Recruiter
February 8, 2021 By Jeff Berman, ThinkAdvisor But a number of factors will determine Cetera's success at retaining Voya's 900 advisors, says recruiter Jon Henschen Industry experts on Monday weighed in on what they saw as the potential positives and negatives of the announcement that Cetera Financial Group is acquiring the independent financial planning channel of insurer Voya Financial. The Voya deal should bring about 900 independent financial professionals with $40 billion in client assets to Cetera, giving it a total of roughly $300 billion in assets and nearly 9,000 financial professionals when the deal is completed later this year, the broker-dealer network said. Voya said in a statement that the deal would provide it with more than $300 million in deployable proceeds at closing. Moody updated its outlook on Cetera Financial Group holding company Aretec Group last...
