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Advisor Group, Cetera Financial seen as potential buyers of Ladenburg Thalmann

16:18 03 November in In the News by rafferty

November 1, 2019 By Bruce Kelly, Investment News Ladenburg should command a price of at least $1 billion, based on its enterprise value Advisor Group and Cetera Financial Group, along with a private-equity investor, are the likely buyers of Ladenburg Thalmann Financial Services Inc., according to several industry sources, with the value of the brokerage network and its 4,400 financial advisers estimated to be at least $1 billion. Ladenburg Thalmann is currently working with an adviser to weigh potential offers. Bloomberg News reported Friday afternoon that Ladenburg is in talks with Advisor Group, citing "people familiar with the matter." Several industry executives pointed to Advisor Group and Cetera Financial as good fits for Ladenburg Thalmann's network of five independent broker-dealers. Advisor Group and Cetera operate similar businesses with stand-alone broker-dealers that use multiple clearing firms for...

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Cetera Financial Group adds 1,000 advisers, $19 billion in assets so far in 2019

18:38 15 August in In the News by rafferty

August 14, 2019 By Bruce Kelly, Investment News Cetera Financial Group is having a banner year in attracting new advisers to its platform, with recruits ranging in experience and production from sophisticated wealth managers to those relatively new to the financial advice industry. A network of six broker-dealers, Cetera said on Wednesday it has added over 1,000 registered representatives year-to-date and reached a record $19.1 billion in newly recruited assets under administration. A good portion of those advisers, more than 400, come from Cetera's acquisition earlier this year of certain assets of Foresters Financial's U.S. broker-dealer and advisory business. And another chunk is CPA, bank or financial institution reps or apprentice-type wealth managers — groups of advisers who don't carry revenue with them to a new firm, said Adam Antoniades, president of Cetera Financial Group,...

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Cetera pledges growth investments after surprise CEO exit — not cutbacks

19:23 08 March in In the News by rafferty

March 7, 2019 By Tobias Salinger, Financial Planning Financial advisor Pete Bush of Horizon Financial Group says he has noticed little or no disruption since the surprise announcement that his independent broker-dealer network is seeking a new CEO. “I will say this,” Bush wrote in an email. “I get a lot more recruiting calls sent to my voicemail and email trash box!” The 25-year veteran of Cetera Advisors and a predecessor firm met with Cetera Financial Group Chairman Ben Brigeman and other members of the IBD network’s board last week, days after the firm announced that Brigeman would serve as interim CEO due to Robert Moore’s exit for health reasons. Private equity firm Genstar Capital, where Brigeman is on the strategic advisory board, had only closed its $1.7-billion acquisition of a majority stake in the...