Tuesday, December 6, 2022
HomeLife InsuranceCetera Retains First Allied Model After BD Closure

Cetera Retains First Allied Model After BD Closure

Cetera plans to host a convention for First Allied representatives in February and can maintain related occasions for its different manufacturers, the CEO provides. 

First Allied, which has practically 450 advisors tied to its model, organizes research teams, an advisor council and different actions. “It has a particular place in my coronary heart,” stated Antoniades, “as a few of its advisors are 30-plus yr buddies of mine.” 

However recruiter Jon Henschen says not all advisors are completely satisfied concerning the BD consolidation technique. “Basically, they’re taking broker-dealers like Summit and First Allied, changing them into tremendous workplaces of supervisory jurisdiction (OSJs) … . It’s an efficient recruiting gross sales approach however does it ship? We hear combined outcomes.”

Antoniades, although, insists the technique is advantageous total for Cetera and its advisors. “We’re harmonizing our know-how stack, AdviceWorks, and have launched two succession options over the previous couple of months. We purpose to enhance the choices for advisors [from these] views.”

As of Dec. 31, 2021, Cetera had roughly $353 billion in belongings underneath administration and $122 billion in belongings underneath administration.

(Information about First Allied dropping its FINRA registration was first reported by WealthManagement.)



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