Cetera to retain about 25 advisors, $1B in client assets from departing OSJ
November 1, 2018 By Tobias Salinger, Financial Planning Cetera Financial Group will retain about a quarter of the advisors and production of a major office of supervisory jurisdiction decamping to rival LPL Financial. Regional director Cheryl Kunstle of Cetera Advisor Networks expects to keep 25 to 30 advisors with $1 billion in client assets and $5 million to $6 million in production out of the Exemplar Financial Network, Kunstle says. Most advisors opting to join LPL will have left by the end of the year, according to Kunstle. The move by the Chicago-area OSJ, which has nearly $4 billion in client assets and about 110 producing advisors, followed at least six other new ex-Cetera teams LPL has announced in a series of press releases since late August. The No. 1 IBD added a net...
