Cetera Financial Group completed its acquisition of MetLife’s two independent broker-dealer firms, Tower Square Securities and Walnut Street Securities, Cetera announced today.
Cetera now serves approximately 7,400 advisors with more than $141 billion in total client assets, including more than $33 billion in fee-based advisory assets. The deal was announced in April.
“We are excited to be given the opportunity to serve these advisors. Helping them deepen their relationships with their clients and grow their practices is at the core of what we do,” said Valerie Brown, Cetera’s chief executive officer. “This acquisition will also be a win for our current advisors as we benefit from the expertise that Tower Square and Walnut Street have in the retirement and insurance markets.”
Cetera Financial Group is one of the nation’s largest privately-held, independent broker-dealer and investment advisor groups. Its four firms include Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Financial Specialists LLC and Cetera Investment Services LLC (Cetera Financial Institutions).