Cetera To Acquire Securian Financial’s Retail Wealth Business

Securian Financial’s retail wealth business includes over 1,000 financial professionals across over 30 independent companies, representing $47.4 billion in AUA and $24.8 billion in AUM.

Your business becomes a distinct community within Cetera Advisor Networks

angels When st. Paul, Ming., January 25, 2023 /PRNewswire/ — Cetera Financial Group (Cetera), one of the largest networks of financial professionals in the United States, today announced that it has entered into a definitive agreement to acquire the retail wealth business of Securian Financial Group, Inc. (Securian Financial) Did. Under this agreement, Cetera will acquire certain assets associated with Securian Financial Services, Inc. (Securian Financial’s broker-dealer, registered investment advisor and insurance agency) and shares in Securian Trust Company, NA. His 1,000+ financial experts across 30 independent companies $47.4 billion Assets under management and $24.8 billion Assets under management December 31, 2022) will be integrated within the Cetera Advisor Networks community as a separate community branded as the Cetera Wealth Management Group. Additionally, the transaction includes an arrangement for Securian Financial to distribute individual life insurance and annuity products through Cetera’s affiliated financial professionals, an extensive strategic partnership aimed at aligning the interests of the two organizations. Contract included.

As part of the acquisition, Cetera will provide employment for the management team and all qualified employees to support Securian Financial’s retail wealth business. Securian Trust Company, NA will become a separate entity of his Cetera, continuing to serve existing advisors and clients, and expanding to serve clients of Cetera’s other businesses. The transaction is subject to regulatory approvals and is expected to close in the third quarter of 2023. Terms of the transaction were not disclosed.

“We have long admired Securian Financial’s commitment to managing partners, a strong independent operating model and a dedicated community of independent financial professionals. Adam Antoniades, CEO of Cetera. “By providing choice and flexibility to our financial professionals and uniquely delivering best-in-class growth capabilities, our Wealth Hub complements and delivers synergies with Securian Financial’s operating model. We envision the untapped growth potential of the independent financial professional network. We share some common values ​​such as a service-driven and service-first mindset. It makes sense.”

“This transaction will allow Securian Financial to reinforce its strategic focus and accelerate growth in its preferred markets, while continuing its commitment to the retail wealth business through a strategic partnership with Cetera.” Chris Hilger, Chairman, President and CEO of Securian Financial. “Cetera provides all the key aspects of acquisition partner selection criteria, including community focus, differentiated scale, industry-leading technology selection and product platform. has a strong cultural fit and appreciates its unique operating model and commitment to accelerating the growth of financial professionals.”

“This acquisition underlines Cetera’s strong financial health and wealth hub ethos, and exemplifies our commitment to organic growth, as well as our business and financial expertise. We also represent it through acquisitions that are best for the community.” Jeffrey Boohister, Cetera’s CFO. “We are thrilled to welcome the Securian Financial team to Cetera and look forward to sharing many of our successes.”

Morgan Stanley and UBS Investment Bank acted as financial advisors Wilkie Farr & Gallagher LLP is acting as legal counsel to Cetera. Goldman Sachs & Co. LLC is acting as financial advisor and Eversheds Sutherland is acting as legal advisor to Securian Financial. UBS Investment Bank is acting as the lead left arranger for the financing.

About Cetera Financial Group®

A large wealth hub, Cetera Financial Group (Cetera) provides modern solutions, support and services to financial professionals and financial institutions. Cetera breaks away from the commoditized, homogenous IBD model and instead addresses the unique needs of advisors and institutions, whether they are seeking growth, expansion, or transition through mergers, divestitures, investments, or succession planning. respond creatively to Cetera serves independent financial advisors, tax professionals, licensed administrators, large corporations and institutions such as banks and credit unions. Cetera has an established history of serving large corporations and financial institutions, providing a well-established and repeatable blueprint for scalable growth.

Cetera’s approach empowers advisors to affiliate in whatever way they see fit. Cetera’s Wealth Hub proactively transforms during a practice’s professional life cycle, with each advisor’s affiliation model identifying levers of growth in a way that maximizes the value of their practice, people and legacy. let it ignite. Cetera provides independent and unbiased financial advice, customized services, growth and succession resources, an enhanced advisor technology stack and, importantly, an experience that makes financial professionals feel like numbers. is an integral part of Cetera’s rich and thriving ecosystem.

Home to over 8,000 financial professionals and their teams, Cetera is home to approximately $322 billion Assets under management and $115 billion Assets under management December 31, 2022In a recent Advisor Satisfaction Study of over 14,000 reviews, Cetera’s Voice of the Customer (VoC) program vigorously measures advisor experience and satisfaction 24/7. It is currently rated at 4.7 out of 5 stars.

Visit www.cetera.com, LinkedIn, YouTube, twitter and Facebook.

“Cetera Financial Group” refers to a network of independent retailers, including Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. All companies are his FINRA/SIPC members. Address: 655 W. Broadway, 11th floor, San DiegoCA 92101.

An individual affiliated with a Cetera company may be a registered agent who provides brokerage services only and receives transaction-based commissions, an investment advisory agent who provides investment advisory services only and receives property-based fees, or It is both a registered agent and an investment advisory agent. We can provide both types of services.

About Securian Financial

Securian Financial is here for families. And we are here for that. We are guided by the purpose of helping our customers build a secure tomorrow. Since 1880, we have built a uniquely diverse company that has survived economic ups and downs while remaining loyal to our customers. We provide insurance, investment and retirement solutions that give families the confidence to focus on what’s truly valuable: banking memories with the people that matter most. For more information about Securian Financial, visit securian.com or follow us on Facebook. twitter or LinkedIn.

Securian Financial is the marketing name for Securian Financial Group, Inc. and its subsidiaries. Insurance products are issued by subsidiary insurance companies, including Minnesota Life Insurance Company and Securian Life Insurance Company. New York Accredited Insurance Company. Securities and investment advisory services provided through Securian Financial Services, Inc., a registered investment advisor, member FINRA/SIPC. Securian Trust Company, NA, an affiliate of the Securian Financial Group, is a national trust bank licensed by the Office of the Comptroller of the Currency.

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