Sonnenfeld Financial Group and Lincoln Capital among latest Cetera affiliations
Cetera attracts more than $1.1 billion in May through business development efforts
LOS ANGELES, May 24, 2022 /PRNewswire/ -- Cetera Financial Group, one of America's largest networks of financial professionals, announced today that two financial advisory teams managing nearly $400 million combined are among its latest affiliations. Minnesota-based Sonnenfeld Financial Group and San Diego-based Lincoln Capital, Inc., have joined regions within Cetera Advisor Networks. The affiliations are the latest recruiting wins for Cetera, which has attracted more than $1.1 billion in assets in May through business development efforts.
Sonnenfeld Financial Group serves clients from offices in Edina and Winona, MN. The firm is led by company president Terry Sonnenfeld, who has been an investment adviser representative for nearly 30 years. The team oversees $150 million in assets under administration, providing investment management and retirement services, and joins AdvisorNet – one of the largest regions within Cetera Advisor Networks. Lincoln Capital joins via Summit Financial Networks, a region of Cetera Advisor Networks. The team of four financial professionals manages $245 million for individuals, families and businesses, pairing customized financial planning services with sophisticated investment management.
"We are thrilled to welcome multiple well-established, veteran teams to Cetera in the same week and look forward to collaborating to help them achieve even greater business success," said John Pierce, Cetera's head of business development. "Our internal sourcing and engagement team continues to successfully recruit financial professionals to large entities to grow enterprise value. We welcome these teams to Cetera and are confident their practices will thrive."
"After careful consideration and thorough due diligence, we are pleased to affiliate our business with Cetera," Sonnenfeld said. "The people at AdvisorNet and Cetera have been extremely welcoming and collaborative, and we are encouraged by the planning resources and tools that this new affiliation provides. We look forward to a bright future for our clients and our business at Cetera."
"After an extensive due diligence process and many discussions with other independent broker-dealers, we made our decision to partner with Cetera and Summit Financial Networks," said Mike Lincoln, lead advisor at Lincoln Capital. "We prioritized better resources and a stronger partnership that would ultimately benefit our clients and our business. Cetera's technology suite is a welcome upgrade for our practice, and we look forward to leveraging the award-winning AdviceWorks and My Advice Architect platforms to better serve our clients. We are excited by this new affiliation and proud to call Summit and Cetera home."
Cetera rounds out May 2022 with positive momentum – including the recent affiliation of a $300 million practice – that builds on a strong first quarter. Several high-profile practices affiliated with Cetera in the first quarter, including Hays Breard, a $327 million Baton Rouge-based practice, which joined Cetera Advisor Networks from LPL in March. In addition, Mark Joyner joined AdvisorNet, managing $250 million in assets. In January, InTouch Wealth Advisors, led by industry veteran financial professionals Jason Benedetti, Gus Dekavallas and Larry Ritter, joined Cetera Advisors as part of Wilde Wealth Management, managing nearly $200 million. Also in the first quarter, Lewis Financial Group, which oversees nearly $150 million in assets and is led by Kate Lewis, joined Cetera Wealth Partners, a region of Cetera Advisor Networks.
About Cetera Financial Group®
Cetera Financial Group (Cetera) is a leading financial services firm whose purpose is to enable the delivery of best-in-class financial advice to as many Americans as possible. Cetera empowers its financial professional communities to help clients achieve their version of financial wellbeing through the Advice-Centric Experience®. Cetera proudly serves independent financial professionals, tax professionals, banks and credit unions in providing wide-ranging financial planning and wealth management services.
Cetera oversees approximately $353 billion in assets under administration and $122 billion in assets under management, as of December 31, 2021.
"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), Cetera Financial Specialists LLC, and First Allied Securities, Inc. All firms are members FINRA/SIPC. Located at: 655 W. Broadway, 11th Floor, San Diego, CA 92101.
Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.
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SOURCE Cetera Financial Group