Cetera To Acquire Securian Financial’s Retail Wealth Business

Securian Fiscal retail wealth business enterprise includes more than 1,000 financial pros across more than 30 independent firms, representing $47.4B in AUA and $24.8B in AUM

Business to become a distinctive community inside Cetera Advisor Networks

LOS ANGELES and ST. PAUL, Minn., Jan. 25, 2023 /PRNewswire/ — Cetera Economic Team (Cetera), just one of America’s premier networks of economic experts, announced currently that it has entered into a definitive arrangement to purchase the retail wealth business enterprise of Securian Economic Team, Inc. (Securian Monetary). Under the agreement, Cetera will obtain specified assets associated to Securian Economical Products and services, Inc. – Securian Financial’s broker-seller, registered expenditure advisor and insurance policies company – as properly as the equity of Securian Have faith in Firm, NA. Additional than 1,000 economical experts throughout 30 impartial companies representing $47.4B in assets below administration and $24.8B in belongings below administration (as of December 31, 2022) will be built-in as a distinctive neighborhood, branded as Cetera Prosperity Administration Group, within the Cetera Advisor Networks community. In addition, the transaction contains a wide strategic partnership arrangement aimed at aligning the passions of the two companies, together with an arrangement whereby Securian Economical will distribute its person life and annuity products and solutions through Cetera’s affiliated economic gurus.

As section of the acquisition, Cetera will prolong work features to the administration staff and all qualified employees who assistance Securian Financial’s retail wealth company. Securian Rely on Business, NA, will grow to be a standalone Cetera entity and will continue on to provide its present advisors and consumers, and grow to provide all those in Cetera’s other firms. The transaction is predicted to shut in the 3rd quarter of 2023, pending regulatory acceptance. Conditions of the offer are not disclosed.

“We have prolonged admired Securian Financial’s determination to their handling companions, their potent impartial running product and focused local community of independent financial industry experts,” mentioned Adam Antoniades, CEO at Cetera. “Our Prosperity Hub, which uniquely provides selection and adaptability to our economical industry experts as well as most effective-in-class progress capabilities, is complementary and synergistic to Securian Financial’s functioning product, and we envision untapped expansion potential for the unbiased money pros joining the Cetera network. Our corporations share various common values, such as a function-pushed, service-initial frame of mind that is grounded in our mission to assist economical gurus and economic institutions increase. This, coupled with the energy of the handling associate interactions that exist, not only features a recipe for good results but will make feeling on so several ranges.”

“This transaction makes it possible for Securian Money to increase our strategic emphasis and speed up expansion in our priority markets, even though at the exact same time go on our dedication to the retail wealth enterprise by means of our strategic partnership with Cetera,” claimed Chris Hilger, Securian Financial’s chairman, president and CEO. “Cetera provides on all important aspects of our acquisition associate range conditions, together with community focus, differentiating scale, and sector-main know-how selection and products platforms. Most importantly, Cetera is a good cultural suit, valuing our one of a kind working design and dedication to accelerating expansion for monetary pros.” 

“This acquisition underscores Cetera’s sturdy economic well being and prosperity hub ethos and signifies an example of our guarantee to mature organically, as very well as as a result of acquisitions that are the appropriate healthy for our small business and group of economical industry experts,” reported Jeffrey Buchheister, CFO at Cetera. “We are thrilled to welcome the Securian Money team to Cetera and look ahead to several shared successes to appear.”

Morgan Stanley and UBS Financial commitment Lender are performing as monetary advisors and Willkie Farr & Gallagher LLP is acting as authorized advisor to Cetera. Goldman Sachs & Co. LLC is acting as economical advisor and Eversheds Sutherland is performing as legal advisor to Securian Money. UBS Financial commitment Bank is serving as the Lead Remaining Arranger for the financing. 

About Cetera Economical Group^®

An at-scale prosperity hub, Cetera Financial Group (Cetera) presents fiscal specialists and establishments the most current solutions, help, and providers. Breaking absent from a commoditized and homogenous IBD product, Cetera alternatively creatively addresses advisors’ and institutions’ unique needs, no matter whether they are in search of to grow, scale, or transition with a merger, sale, investment, or succession strategy. Cetera proudly serves independent monetary advisors, tax industry experts, certified directors, substantial enterprises, as effectively as institutions, these as banks and credit history unions. Cetera has an proven record of serving huge enterprises and money establishments, providing an established and repeatable blueprint for scalable advancement.

Cetera’s solution empowers advisors to affiliate in whichever way they deem most suitable. In the course of the skilled everyday living cycle of their follow, the Cetera wealth hub proactively turns – making sure each and every advisor’s affiliation product identifies and ignites progress levers, in a way that maximizes the worth of their exercise, individuals, and legacy. Cetera provides independent and impartial monetary assistance, custom made offerings, expansion and succession methods, an increased advisor tech stack and importantly, an expertise the place fiscal specialists don’t come to feel like a variety, but an integral part of Cetera’s prosperous and flourishing ecosystem.

House to more than 8,000 financial industry experts and their groups, Cetera oversees approximately $322 billion in property beneath administration and $115 billion in assets less than management, as of December 31, 2022. In a modern advisor gratification study of far more than 14,000 critiques, Cetera’s Voice of Client (VoC) program vigorously steps advisor experience and gratification 24/7. At present, it’s ranked 4.7 out of 5 stars.

Stop by www.cetera.com, and stick to Cetera on LinkedIn, YouTube, Twitter and Fb. 

“Cetera Economical Team” refers to the community of independent retail corporations encompassing, among other individuals, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment decision Companies LLC (promoted as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Professionals LLC. All firms are FINRA/SIPC customers. Positioned at: 655 W. Broadway, 11^th Floor, San Diego, CA  92101.

Persons affiliated with Cetera corporations are possibly Registered Representatives who supply only brokerage solutions and obtain transaction-based payment (commissions), Expenditure Adviser Associates who offer only investment decision advisory products and services and obtain fees dependent on belongings, or both of those Registered Reps and Expense Adviser Representatives, who can offer you equally sorts of expert services.

About Securian Fiscal

At Securian Financial, we’re here for family members. And we are below for the reason that of it. We’re guided by our goal of helping prospects build protected tomorrows. Due to the fact 1880, we have been creating a uniquely diversified organization that has outlasted financial ups and downs while staying genuine to our prospects. We deliver coverage, financial commitment and retirement methods that give family members the self-confidence to aim on what is actually certainly useful: banking memories with people who subject most. For far more details about Securian Economic, go to securian.com or follow us on Facebook, Twitter or LinkedIn.

Securian Financial is the marketing and advertising title for Securian Money Group, Inc., and its subsidiaries. Insurance policies goods are issued by its subsidiary insurance plan corporations, which includes Minnesota Existence Insurance policy Company and Securian Daily life Insurance Enterprise, a New York approved insurance provider. Securities and investment advisory companies supplied by Securian Financial Expert services, Inc., registered investment decision advisor, member FINRA/SIPC. Securian Have confidence in Business, N.A., is an affiliate of Securian Economic Group and a national have faith in lender chartered by the Place of work of the Comptroller of the Currency.

Supply Cetera Money Group