Wooster Square Advisors, a New Haven, Conn.-based practice, has affiliated with Cetera Wealth Partners to join Cetera Advisor Networks, headquartered in El Segundo, Calif., the companies said.
Led by managing partner and wealth manager Brett Amendola, Wooster Square was formerly affiliated with Park Avenue Securities, where the team managed about $250 million in assets under administration as of January 30. The six-member team brings a combined 150 years of experience in service to a clientele consisting of families; business owners; and legal, medical, and higher education professionals.
“With Cetera’s industry-leading technology, a broad product and platform suite, and a clear vision for our practice, Cetera is the right partner for our business and our clients,” Amendola said in a prepared statement. “In addition, Cetera embraces the importance of independence in an advice-based relationship, and we look forward to accelerating our growth and better serving clients together for years to come.”
Tom Halloran, president of Cetera Wealth Partners, said in a news release thgat the partnership between the two firms would be a mutually beneficial one.
“We are excited to welcome the Wooster Square team as the latest addition to the Cetera Wealth Partners family,” he said. “Brett and the Wooster Square team share our vision and values as we work to maximize strengths, drive meaningful growth, and serve clients in new and innovative ways.”
The move comes on the heels of a year that saw a record $13 billion in organic recruiting of assets under administration for Cetera communities.
Founded in 2010, Cetera Financial Group is a shared service organization serving affiliates that comprise the second-largest family of independent broker-dealers in the U.S. Home to more than 8,000 financial professionals and their teams, Cetera oversaw about $322 billion in assets under administration and $115 billion in assets under management as of December 31.