IBD Berthel Fisher in Talks to Sell to Cetera
May 15, 2020 By Diana Britton, WealthManagement.com Sources say it would make sense for Berthel Fisher to sell, given the low rate environment and its history with high-risk alternatives. Cedar Rapids, Iowa-based independent broker/dealer Berthel Fisher, which has a couple hundred advisors, is in advanced discussions to be acquired by Cetera, according to sources close to the investment banking community. Other b/ds have looked at buying Berthel Fisher, but Cetera is the only one who has submitted a bid so far. The two companies have been in discussions for at least the last month, and any deal would likely be an asset sale, said one investment banking source, who declined to be named. Another source close to the investment banking community said the deal would likely be done soon and would be a semi-distressed transaction....