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In the News

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Will the Lull in Advisor Recruiting Last?

17:40 31 December in In the News by rafferty

December 26, 2019 By Janet Levaux, ThinkAdvisor The recruiting season in 2019 did not go out with a bang. It did, though, see some movement tied to the big news of late October, that Advisor Group is scooping up Ladenburg Thalmann. What’s ahead for 2020? Industry recruiters offer mixed views. Other Trends  But recruiter Mark Elzweig doesn’t see storm clouds ahead. “I believe 2020 will be a strong year for advisor recruiting — no matter what happens in the markets,” he said. According to Elzweig, there are plenty of advisors who realize “that good markets don’t last forever and that it’s advantageous to move with big trailing 12 [revenue or production] numbers and happy clients.” The post-crash advisor recruiting deals of a decade ago have now expired, he points out, which makes these advisors free agents. “Payout reductions and...

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Cetera Taps Antoniades as CEO

21:30 04 December in In the News by rafferty

December 3, 2019 By Janet Levaux, ThinkAdvisor Cetera Financial Group has a new CEO: Adam Antoniades, who’s served as its president since 2014. Antoniades took the leadership torch from interim CEO Ben Brigeman, who remains chairperson, on Tuesday. Antoniades will now serve on Cetera’s board and lead its member broker-dealers — First Allied Securities (which he founded), Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services/Cetera Financial Institutions and Cetera Financial Specialists. The group says it has about 7,500 affiliated independent advisors and about $240 billion in client assets. The new chief executive takes over some nine months after then-CEO Robert “RJ” Moore stepped down from the position and about a year since the private-equity firm Genstar Capital acquired a majority stake in Cetera for $1.7 billion. When Moore gave up the job, Genstar and Cetera...

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Atria Scoops Up IBD With Turnkey Model

16:36 23 November in In the News by rafferty

November 21, 2019 By Diana Britton, WealthManagement.com The firm will acquire Western International Securities, adding 400 advisors and a new affiliation model. Atria Wealth Solutions announced plans Thursday to acquire Western International Securities, a Pasadena, Calif.-based independent broker/dealer with over 400 advisors and $13 billion in client assets under administration. The deal, expected to close in the first quarter 2020, would bring Atria’s total network to nearly 2,500 advisors and $80 billion in assets. Western International Securities would be Atria’s fifth IBD acquisition since it was launched in August 2017 by former Morgan Stanley executive Doug Ketterer. He initially launched into the financial institutions channel with the acquisition of sister b/ds CUSO Financial Services and Sorrento Pacific Financial, both based in San Diego. They have a combined $30 billion in assets under administration and 500 advisors at...