Cetera Holdings Closes Acquisition of RIA: The Retirement Planning Group, Inc.
$1.4 billion in AUM and 40 employees moving to Cetera
RIA provides holistic financial planning services to more than 1,800 high-net-worth individuals, families and retirees
LOS ANGELES, June 6, 2023 - Cetera Holdings, the holding company of Cetera Financial Group, the premier financial advisor Wealth Hub where financial advisors and institutions can optimize professional control and value creation, announced today that it has acquired The Retirement Planning Group, LLC (TRPG), an independent registered investment advisory (RIA) firm. TRPG serves high-net-worth individuals, families and retirees and manages approximately $1.4 billion in assets under management (AUM) across approximately 1,825 client accounts with 40 employees, including 14 advisors, as of April 30, 2023. In addition to holistic financial planning services, TRPG provides tax solutions as well as payroll and bookkeeping services to serve wide-ranging wealth management needs. TRPG is operated by senior management of TRPG, including CEO Kevin Conard, CRPC®, and is headquartered in Leawood, KS (near Kansas City), with offices in St. Louis and Denver.
“We admire and embrace TRPG’s values and commitment to helping investors reach their version of financial wellbeing through all life stages,” said Mike Durbin, CEO of Cetera Holdings. “We welcome TRPG to Cetera and look forward to close collaboration and shared success for many years to come.”
Durbin continued, “This acquisition is synergistic on many levels and represents our commitment to constantly identify and deliver multiple options that give advisors a depth of choice and flexibility to affiliate their business with Cetera as they see fit. To that end, we anticipate close collaboration as we continue to define a new affiliation model through our Wealth Hub that marries the principles of independence with the support and resources of employee services.”
“As we looked to the future of our business, we quickly realized that Cetera delivers on all the areas that are most important to our business and our clients,” Conard said. “This partnership sets us up for a bright future as we continue to attract advisors seeking to focus more on taking care of their clients and less on the operational aspects of running a business. Cetera is a great cultural fit for our employees and our clients, and we are excited and honored to call Cetera home.”
The transaction represents the latest growth milestone for Cetera, which has completed multiple investments in advisor practices in recent months, including minority investments in NetVEST Financial, LLC and Prosperity Advisors, LLC. In January, Cetera announced that that it has entered into a definitive agreement to acquire the retail wealth business of Securian Financial Group, Inc. (Securian Financial). In May, Cetera announced that it appointed Mike Durbin CEO of Cetera Holdings.
Visit www.cetera.com for more information about Cetera and visit https://www.planningretirements.com/ for more information about TRPG.
About Cetera Financial Group®
Cetera Financial Group (Cetera), which is owned by Cetera Holdings, is the premier financial advisor Wealth Hub where financial advisors and institutions optimize their control and value creation. Breaking away from a commoditized and homogenous IBD model, Cetera offers financial professionals and institutions the latest solutions, support, and services to grow, scale, or transition with a merger, sale, investment, or succession plan. Cetera proudly serves independent financial advisors, tax professionals, licensed administrators, large enterprises, as well as institutions, such as banks and credit unions, providing an established and repeatable blueprint for scalable growth.
Home to more than 8,000 financial professionals and their teams, Cetera oversees approximately $330 billion in assets under administration and $116 billion in assets under management, as of March 31, 2023. In a recent advisor satisfaction survey of more than 21,000 reviews, Cetera’s Voice of Customer (VoC) program vigorously measures advisor experience and satisfaction 24/7. Currently, it’s ranked 4.8 out of 5 stars.
Visit www.cetera.com, and follow Cetera on LinkedIn, YouTube, Twitter and Facebook.
“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), and Cetera Financial Specialists LLC. All firms are FINRA/SIPC members. 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.