Securian and Cetera generated $2.93 billion in combined annual revenue in 2021
February 1, 2023 By Tobias Salinger, Financial Planning The largest acquisition so far this year in wealth management comes with offers of retention payments to 1,000 Securian financial advisors, who are debating whether or not to join their buyer, Cetera. In an interview with Financial Planning one week after Cetera Financial Group’s Jan. 25 agreement to acquire the retail wealth business of Securian Financial Group, Cetera CEO Adam Antoniades confirmed that private equity-backed Cetera will provide financial incentives for “transition assistance” to advisors whose brokerage will change when the deal closes later this year. The parties didn’t disclose the financial terms of the deal. Antoniades declined to say how much financial assistance Cetera will extend for the incoming practices. He compared the deal to Cetera’s 2021 acquisition of certain assets of Voya Financial Advisors. Cetera is pledging to...