PFG

What PFG does

PFG (Partners Financial Group), founded in 1960 and headquartered in State College, Pennsylvania, is a privately held Independent Producer Group that provides back-office infrastructure, compliance oversight, technology, and practice management support to a national network of independent financial advisors. The company operates through three primary service pillars: PFG Network Advantage (a bundled service platform covering compliance led by in-house General Counsel, practice management, marketing, insurance carrier access, new business processing, and back-office support), Level 7 Labs (a curated, a la carte technology suite bundling third-party tools such as eMoney, Money Guide Pro, DocuSign, Black Diamond, Repertoire, LastPass, Cisco Umbrella, and RingCentral), and GNL (Going to the Next Level), a peer-based business consulting study group program moderated by the CEO Eric Dare with cohorts of 8-12 advisors meeting three times per year. Securities are distributed through an affiliation with Cetera Wealth Services, LLC (member FINRA/SIPC), and advisory services operate through Vicus Capital, PFG's wholly-owned Federally Registered Investment Advisor subsidiary. As of 9/30/20, the platform serviced $4.24 billion in advisory, brokerage, and directly held assets across 80+ affiliated advisors and 20 financial institution partners.

PFG's business model is B2B2C and non-transactional with end consumers — the company does not sell directly to investors. Revenue is generated from affiliated advisors through (a) transaction-based compensation (commissions) earned on brokerage activity under the Cetera broker-dealer platform, (b) recurring fee-based revenue on assets under management routed through the Vicus Capital RIA, (c) transition bonuses and ongoing economics from advisors onboarding their books of business, and (d) insurance commissions on Life, Long-Term Care, and Fixed Annuity products placed through PFG's direct carrier appointments. Customer acquisition is driven by direct recruiting of independent advisors (including wirehouse departures), referrals from the existing GNL community, financial institution partnerships (banks/credit unions embedding PFG-supported advisors), and an active B2B acquisition pipeline targeting RIAs, OCIO firms, and OSJ-structured firms. In November 2025, PFG transitioned its broker-dealer affiliation from Osaic to United Planners, moving more than 80 advisors and 20 institutional partners onto the new platform.

Name

PFG

Legal name

PFG, Inc.

Website

https://pfginc.com

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

11–50 employees

Short description

PFG is a privately held Independent Producer Group, founded in 1960 in State College, PA, that provides back-office, compliance, technology (Level 7 Labs), and practice-management support to a network of 80+ independent financial advisors and 20 financial institution partners across the United States.

Ownership category

akta.pro rank

Headquarters

HQ city

State College

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Broker-Dealer Services Revenue: PFG provides broker-dealer services through its affiliation with Cetera Wealth Services, LLC (member FINRA/SIPC). The company generates revenue from the network of independent financial professionals who operate under the Cetera broker-dealer platform. Revenue is derived from transaction-based compensation (commissions) received by registered representatives, as well as fee-based advisory revenue managed through the Vicus Capital RIA platform. The company's services to advisors (back-office, compliance, technology, practice management) are supported by the economics generated from advisor production under the broker-dealer and RIA umbrellas.
2. Investment Advisory Services (Vicus Capital): Vicus Capital, PFG's Federally Registered Investment Advisor, provides investment advisory services to advisors and their clients. This generates fee-based revenue (fees based on assets under management) as an alternative to commission-based compensation. PFG supports the Vicus Capital platform with professional staff.
3. Advisor Transition & Onboarding Services: PFG earns revenue from advisors transitioning their books of business to the PFG/Cetera platform. This includes transition bonuses paid by advisors (based on confirmed trailing 12-month GDC), and ongoing economics generated from the advisors' client assets placed on the platform. The company provides account-by-account mapping, fee impact analysis, and repapering assistance as part of onboarding.
4. Insurance Agency Services: PFG holds direct appointments with numerous insurance carriers for Life Insurance, Long Term Care, and Fixed Annuities. The company earns commissions from the sale of insurance products through its network of advisors, facilitated by these carrier relationships.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

PFG operates as an Independent Producer Group that recruits, onboards, and supports independent financial advisors through a bundled service platform. Its core offering combines broker-dealer and RIA infrastructure (via Cetera Wealth Services and Vicus Capital), a General Counsel-led compliance department, a curated technology suite (Level 7 Labs), practice management consulting (GNL study groups), back-office processing, marketing services, and direct insurance carrier appointments.

Product overview

PFG (Partners Financial Group) is an Independent Producer Group established in 1960, headquartered in State College, PA, serving $4.24 billion in assets with 80+ associates. The company operates as a national financial services network that focuses on supporting independent financial advisors through a comprehensive service model. PFG's offerings are organized around several core components: Vicus Capital serves as their Federally Registered Investment Advisor providing investment advisory services; Level 7 Labs delivers a customizable technology suite with financial planning platforms (eMoney, Money Guide Pro, Advice Pay), paperless document tools (DocuSign, LaserApp, RedTail, Citrix ShareFile), reporting solutions (Black Diamond, Repertoire), cybersecurity tools (LastPass, Cisco AMP, Cisco Umbrella), and communication systems (RingCentral Office); the PFG Network Advantage provides compliance support, practice management, back office, marketing, and insurance services; and GNL (Going to the Next Level) offers business consulting through peer study groups moderated by the President and CEO. Securities are offered through Cetera Wealth Services, LLC.

Differentiator

Problem solved

Functional benefit

Brands

• Vicus Capital: Federally Registered Investment Advisor providing state-of-the-art investment solutions through a world-class service experience for PFG associates and their clients.
• Level 7 Labs
• Going to the Next Level (GNL)
• PFG Network Advantage

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core.

• United PlannerscoreChannel Partner/ Reseller/ Distributor · 16 November 2025PFG selected United Planners as its new broker-dealer, transitioning away from its previous relationship with Osaic. The transition involves over 80 financial advisors and 20 financial institution partners moving to the United Planners platform. This strategic move supports PFG's independent, flexible advisory services model. United Planners is a broker-dealer that provides back-office and compliance infrastructure for independent advisors, aligning with PFG's go-to-market strategy.
• Cetera Wealth Services, LLCcoreChannel Partner/ Reseller/ DistributorSecurities are provided through Cetera Wealth Services, LLC, member FINRA/SIPC. PFG serves as the network/support organization for independent financial professionals operating under the Cetera broker-dealer. Cetera provides the regulatory infrastructure, brokerage platform, and securities licensing, while PFG provides the practice management, technology, compliance, and recruiting support.
• Vicus CapitalcoreTechnology or IntegrationVicus Capital is PFG's Federally Registered Investment Advisor, providing fee-based investment advisory services through a dedicated professional staff. Vicus Capital offers state-of-the-art investment solutions delivered through a world-class service experience. PFG's compliance department reviews Vicus Capital managed accounts as part of its due diligence process. The Vicus Capital RIA platform complements Cetera's commission-based brokerage with a fee-based advisory alternative.
• Insurance Carriers (Life, Long Term Care, Fixed Annuities)coreChannel Partner/ Reseller/ DistributorPFG holds direct appointments with numerous insurance carriers, providing complete access to Life Insurance, Long Term Care, and Fixed Annuity products for its network of advisors. These carrier appointments are a core component of the value PFG provides to its advisor network, enabling product diversification and commission revenue beyond investment products.
• Level 7 Labs Technology Vendors (eMoney, Money Guide Pro, Advice Pay, DocuSign, LaserApp, RedTail, Citrix ShareFile, Black Diamond, Repertoire, LastPass, Cisco AMP, Cisco Umbrella, RingCentral)coreTechnology or IntegrationLevel 7 Labs is PFG's proprietary technology platform built on curated third-party vendor integrations. Vendors include: financial planning tools (eMoney, Money Guide Pro, Advice Pay), paperless office (DocuSign, LaserApp, RedTail, Citrix ShareFile), portfolio reporting (Black Diamond, Repertoire), cybersecurity (LastPass, Cisco AMP, Cisco Umbrella), and communication (RingCentral Office). PFG's technology and compliance departments conduct due diligence on all vendors. The platform is available a la carte or as a bundled suite.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Kestra Financial: Independent wealth management platform supporting independent financial advisors with back-office, compliance, technology and practice management — the same structural role PFG plays for its 80+ advisors. Kestra is a closely comparable IPG-style platform with similar service bundling and an RIA affiliate.
• Cambridge Investment Research: Large independent broker-dealer supporting thousands of independent financial advisors with compliance, technology, marketing and practice consulting. Cambridge is the most direct large-scale analog to PFG's IPG model, including an in-house RIA arm and an advisor-recruiting motion.
• Commonwealth Financial Network: Privately held independent broker-dealer/RIA serving independent financial advisors with a holistic practice support model similar to PFG Network Advantage. Comparable in its bundled approach to compliance, technology, and advisor community.
• Park Avenue Securities: Independent broker-dealer supporting independent financial advisors with practice management, compliance and technology. Like PFG, Park Avenue Securities is a mid-sized BD that emphasizes advisor support and succession planning.

Broad incumbents

• Cetera Financial Group: Large independent broker-dealer that is PFG's current broker-dealer partner (Cetera Wealth Services, LLC). Cetera serves the same independent advisor market at much greater scale, and is the umbrella platform under which PFG's securities are offered.
• LPL Financial: Largest independent broker-dealer in the US, supporting independent financial advisors with technology, compliance, and clearing. LPL competes directly with PFG for wirehouse-departing and independent advisors and dwarfs PFG in scale.
• Osaic: Large independent broker-dealer that was PFG's broker-dealer partner before the November 2025 transition to United Planners. Comparable to Cetera in scope — supporting thousands of independent advisors with practice services.

Emerging players

• AdvisorNet Wealth: Independent wealth platform providing advisors with technology, compliance and back-office support. Comparable to PFG as a smaller-scale, growing IPG/OSJ model targeting independent advisors seeking a more boutique platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/partners-financial-group-llc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about PFG