Cetera Financial Group

What Cetera Financial Group does

Cetera Financial Group is a privately-held, independent broker-dealer and registered investment adviser network headquartered in San Diego, supporting approximately 11,400 financial advisors across 50 states and 450 financial institution partnerships with $640 billion in assets under administration and $294 billion in assets under management as of December 31, 2025. The company operates four broker-dealers organized into five distinct advisor communities (Cetera Advisors, Cetera Wealth Services, Cetera Financial Specialists, Cetera Investment Services through Cetera Investors and Cetera Financial Institutions) plus an RIA platform delivered via three affiliation models (Cetera Corporate RIA, Advisor-Owned RIA with Compliance Support, Advisor-Owned RIA). Its core technology stack is the AdviceWorks platform, which integrates Redtail CRM, Albridge data aggregation, MoneyGuidePro financial planning, and Orion Advisor Technology, augmented by AI-enabled modules including Advanced Time Segmentation (retirement income), Growth360 (growth identification), LeadEngine (prospecting), MarketingCentral (AI-curated marketing), and the TIFIN AMP-powered Share of Wallet Advisor Growth Engine.

The company's revenue model combines advisory fees on managed assets, transaction-based brokerage commissions, custodial and correspondent clearing fees, Strategic Partner revenue sharing with mutual fund, annuity, and alternative product sponsors, and ancillary training/ticket charge income. Approximately 70 acquisitions completed in six years have scaled the platform from $242B AUA in 2018 to $640B in 2025 under private equity owner Genstar Capital. Most recent strategic moves include the April 2026 launch of Cetera Planning Partners (a consolidated employee-advisor RIA combining Avantax Planning Partners and The Retirement Planning Group with approximately $19B in assets), ongoing acquisition of Concourse Financial Group Securities ($12B AUA, ~350 advisors), and the appointment of former eMoney CEO Ed O'Brien as COO. Cetera also operates Earned-media-recognized programs (four Stevie Awards for Connect conference, 13th BISA Innovation Award) and faces a pending data breach class action lawsuit alongside Ameriprise.

Name

Cetera Financial Group

Legal name

Cetera Financial Group, Inc.

Website

http://www.cetera.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cetera Financial Group is a privately-held independent broker-dealer and RIA network serving approximately 11,400 financial advisors and 450 financial institutions nationwide with $640B in assets under administration, operating through four broker-dealers and an integrated multi-custodial platform.

Ownership category

akta.pro rank

Product category

Wealth Management and Broker-Dealer Services

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA)

akta.pro secondary industries

Financial Planning–Led RIAs (FSAAACAB), Digital Wealth Platforms for Advisors (TAMP/Advisor Tech) (FSAGAEAH), Comprehensive Financial Planning (FSAEAAAA)

Keywords

• Wealth management services
• Independent broker-dealer
• Investment advisory
• Broker-dealer support
• Institutional investment programs

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Broker-Dealer Services: Cetera operates four broker-dealers providing brokerage services to independent financial professionals. Revenue is generated through transaction-based commissions, advisory fees, and custody services.
2. Investment Advisory Fees: Registered investment advisers within the Cetera network charge asset-based advisory fees for financial planning and investment management services.
3. Strategic Partner Revenue Sharing: Revenue sharing payments from Strategic Partners including mutual fund companies, insurance carriers, and alternative investment sponsors. Payments include sales-based fees up to 50 basis points, asset-based payments up to 15 basis points annually, and flat fees.
4. Custodial Services: Cetera Investment Services provides self-clearing custodial services for IRA assets and securities custody, generating revenue through account administration and regulatory compliance services.
5. Ticket Charges and Transaction Fees: Transaction charges for mutual fund and ETF purchases, with ticket charges waived for Strategic Partner products meeting minimum thresholds.
6. Training and Education Compensation: Additional compensation from product sponsors for training and educational meetings, offsetting costs of advisor education programs.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels12 records

Core offering

Cetera Financial Group operates a multi-channel wealth management network providing independent financial advisors, financial institutions, and registered investment advisers with brokerage services, investment advisory services, custodial services, technology platforms, marketing programs, and succession planning support. Its four broker-dealers and SEC-registered investment advisers deliver comprehensive wealth management infrastructure to approximately 11,400 advisors and 450 financial institutions managing $640 billion in assets under administration.

Product overview

Cetera Financial Group is a multi-channel wealth management ecosystem combining independent broker-dealer services, RIA aggregation, and institutional investment programs. The core AdviceWorks platform integrates CRM (Redtail), data aggregation (Albridge), financial planning (MoneyGuidePro), and Orion Advisor Technology to serve approximately 11,400 financial advisors and 450 financial institutions. The platform is augmented by marketing and growth tools (MarketingCentral, LeadEngine, GrowthLine, Growth360), retirement income planning (Advanced Time Segmentation), succession planning (Legacy Builder), and the RIA Blueprint program for independent advisor model conversion. Recent launches include Cetera Planning Partners (consolidating Avantax Planning Partners and The Retirement Planning Group with ~$19B AUA), Cetera Private Wealth Portfolios (via Envestnet), and an AI-powered Share of Wallet Advisor Growth Engine (with TIFIN AMP). The company operates four broker-dealers and multiple SEC-registered investment advisers, supporting $640B in assets under administration across all channels.

Differentiator

Problem solved

Functional benefit

Brands

• AdviceWorks: Proprietary holistic platform that brings together Redtail, Albridge, and MoneyGuidePro with Orion Advisor Technology for advisors to manage their brokerage and advisory business.
• Advanced Time Segmentation (ATS)
• GrowthLine
• Growth360
• LeadEngine
• MarketingCentral
• Legacy Builder
• RIA Blueprint
• Avantax Network
• Summit Financial Networks

Products and services

• AdviceWorks Proprietary holistic advisor platform that integrates CRM (Redtail), data aggregation (Albridge), financial planning (MoneyGuidePro), and Orion Advisor Technology, providing advisors with control and oversight of their entire brokerage and advisory business.
• Advanced Time Segmentation (ATS) AI-powered retirement income planning solution that segments client assets into Immediate Income, Future Income, Long-Term Growth, and optional Lifetime Income and Income & Growth buckets, adapting in real time to changing goals and household situations. Won the 2026 BISA Technology & Innovation Award.
• Growth360 AI-powered growth platform that identifies areas with the most growth potential and creates end-to-end action plans with personalized support from dedicated Growth Officers to enhance organic growth.
• LeadEngine Intelligent prospecting system delivering high-intent, qualified leads to advisors through SmartAsset integration, LeadJig seminar targeting, and White Glove event marketing services with up to 100% cost reimbursement. Over 94,000 leads delivered and $1.5+ billion in pipeline assets to date.
• MarketingCentral AI-powered marketing automation platform providing customizable quarterly plans with AI-curated content, calendarized marketing strategy, and 25+ automated compliant campaigns for ongoing client engagement.
• GrowthLine Go-to-market brand transformation and website development program including brand identity creation, website development, SEO optimization, and omnichannel campaign strategy. Valued at over $150,000 and offered at no cost when advisors join Cetera. Associated with 55% more annual revenue growth.
• Legacy Builder Full-service succession and continuity planning solution including Continuity Program, Succession Program, Qualified Buyer Program, and Cetera as Buyer option to help advisors safeguard their practice and maximize enterprise value for eventual sale.
• Emergency Planning and Communications Kit (E-PACK) Emergency planning tool for affiliated and unaffiliated financial professionals to support business clients during disaster scenarios. Includes disaster recovery plan templates, emergency response guidelines, pre-written client communication scripts, and charitable donation advice.
• RIA Blueprint Comprehensive RIA ecosystem combining AdviceWorks technology, compliance support, and custodial solutions with three affiliation models: Cetera Corporate RIA, Advisor-Owned RIA with Compliance Support, and fully Advisor-Owned RIA.
• Cetera Private Wealth Portfolios Suite of customizable investment portfolios for affluent and high-net-worth clients, available exclusively through the Envestnet Private Wealth platform, leveraging Cetera Investment Management's expertise.
• Cetera Planning Partners National employee-advisor RIA consolidating Avantax Planning Partners and The Retirement Planning Group under one platform with over 100 advisors and approximately $19 billion in assets under advisement. Offers coordinated financial planning, tax strategy, investments, estate planning, insurance, trust services, and retirement solutions.
• Share of Wallet Advisor Growth Engine AI-powered advisor growth intelligence platform developed in partnership with TIFIN AMP that analyzes advisor portfolios to identify cross-selling opportunities and addressable wallet share, surfacing actionable opportunities representing billions in addressable assets.
• Accesslink Onboarding program that assigns a dedicated experience manager and coach to guide new advisors through account movement preparation and technology setup, customized to each advisor's needs.

Quantifiable outcome

• 55% more annual growth for advisors using GrowthLine vs. comparable peers
• +7 more outcomes

Named customers14 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability8 records

Feature9 records

Partnerships

Nine partnerships are on record, tiered core, flagship and minor.

• Honor Credit UnioncoreChannel Partner/ Reseller/ Distributor · 23 April 2026Partnership to expand Honor Credit Union's investment services program (Honor Investment Services) using Cetera's GrowthLine program and nationwide experience. Honor serves over 105,000 members across Michigan with approximately $1.8 billion in member assets.
• TIFIN AMPcoreTechnology or Integration · 13 April 2026Strategic partnership to develop AI-powered Share of Wallet Advisor Growth Engine. During pilot phase, the solution surfaced $5.95 billion in addressable assets and generated $21.6 million in net new assets with 3.3x higher growth than network average.
• Forward BankcoreChannel Partner/ Reseller/ Distributor · 13 January 2026Forward Bank partnered with Cetera Financial Institutions to support its Forward Investment Services program overseeing approximately $350 million in client assets. Returned to Cetera after previous 15-year affiliation, citing need for advanced AI capabilities.
• EnvestnetcoreTechnology or Integration · 28 October 2025Strategic collaboration to offer Cetera Private Wealth Portfolios through Envestnet Private Wealth platform, providing institutional-grade investment solutions for affluent and high-net-worth clients.
• Regions BankflagshipChannel Partner/ Reseller/ Distributor · 23 October 2024Renewed networking agreement extending collaboration that began in 2013 to support Regions Investment Solutions investment programs. Regions Bank has $157 billion in assets. Cetera celebrates 99% retention rate for institutions.
• Pershing LLCcoreTechnology or IntegrationPrimary clearing and custodial partner for Cetera's brokerage business. Pershing executes and clears securities transactions, acts as custodian for funds and securities, and provides IRA administration services. Cetera Investment Services became self-clearing in 1991.
• Strategic Partners (Mutual Fund Companies)coreOthersRevenue sharing partnerships with mutual fund companies including Aristotle, Calvert, Columbia Threadneedle, DWS, Eaton Vance, Goldman Sachs, Lord Abbett, Morgan Stanley, PGIM, PIMCO, Transamerica, Victory Capital, and Voya. Partners receive enhanced marketing and training opportunities.
• Strategic Partners (Insurance/Annuity Carriers)coreOthersPartnerships with annuity carriers including Allianz, American National, Athene, Brighthouse, Corebridge, Equitable, Lincoln, Mass Mutual, Nationwide, New York Life, Pacific Life, Prudential, and Voya. Designated Insurance Companies provide additional marketing allowances.
• Strategic Partners (Alternative Investment Companies)minorOthersPartnerships with alternative investment sponsors including Apollo, Ares, Blackrock, Blackstone, Blue Owl, Brookfield, Franklin Templeton, Hines, KKR, and JP Morgan for interval funds, non-traded REITs, and other alternative investments.

Scale indicators21 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Raymond James Financial: Raymond James operates a large independent contractor channel (RJ Financial Services) alongside its employee advisor business; while broader than Cetera in product set and corporate finance activities, it overlaps materially on independent advisor recruitment and transition support.
• Charles Schwab (Advisor Services): Schwab Advisor Services is the dominant RIA custodian and competes for advisor franchise ownership at scale; as a broad incumbent with deep technology investment, Schwab represents the largest platform risk to Cetera's RIA and breakaway franchise going forward.
• Ameriprise Financial: Ameriprise operates a large branded advisor channel with planning-centric wealth management offerings and is currently co-defendant with Cetera in client data breach class actions — its size, regulatory exposure profile, and advisor platform provide a useful broad-incumbent comparison.
• Fidelity Investments (Wealth Advisor Solutions): Fidelity offers advisor custody, technology, and wealth management services to RIAs and is itself a major retail wealth competitor; its institutional platform and Wealthscape tools compete with Cetera for advisor recruits and institutional investment programs, and several Cetera senior leaders (Matt Kwartler, Jennifer Hanau) joined from Fidelity.
• Edward Jones: Edward Jones operates a large US branch-based advisor network offering wealth management and brokerage; although structurally an employee advisor model rather than independent, it competes for the same wirehouse advisors considering a move to independence and shares similar planning-led and lead-generation approaches.

Direct peers

• Cambridge Investment Research: Cambridge is a large independent broker-dealer and RIA custodian serving independent financial advisors with a comparable multi-channel structure; its scale, advisor support model, and acquisition strategy directly mirror Cetera's go-to-market approach.
• LPL Financial: LPL Financial is the largest US independent broker-dealer and RIA custodian (~22,000 advisors, >$1T AUA); it is the most direct competitor to Cetera, addressing the same independent advisor, wirehouse breakaway, and institutional segments with overlapping technology, advisory, and clearing offerings.
• Commonwealth Financial Network: Commonwealth is a privately-held independent broker-dealer and RIA supporting thousands of independent advisors nationwide; it competes head-to-head with Cetera for independent and breakaway advisor talent with similar affiliation models and technology stacks.
• Osaic (formerly Advisor Group): Osaic is a large multi-brand independent broker-dealer and wealth platform (Royal Alliance, SagePoint, FSC Securities, etc.); its multi-channel structure and focus on independent advisor support make it a structural peer to Cetera's four broker-dealer network.

Others

• Envestnet: Envestnet is both a Cetera strategic partner (hosting Cetera Private Wealth Portfolios on its Private Wealth platform) and an adjacent TAMP/wealthtech provider; it is a technology and platform peer rather than a direct sales competitor but influences Cetera's high-net-worth offering economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ceterafinancial
• LinkedInlinkedin.com/company/cetera-financial-group

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries13 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cetera Financial Group