Cetera Financial Group today announced that two firms collectively managing $532 million in assets under management have exited Raymond James to join Cetera affiliate Summit Financial Networks.
Strutzel Family Wealth Management and Martingale Investment Group are joining Cetera in Schaumburg, Ill. Both teams have been with Raymond James since 2007, according to BrokerCheck.
David and Matthew Strutzel, a father-son team with nearly 50 years of experience operate Strutzel Family Wealth Management. The firm provides wide-ranging financial planning and wealth management services, advising clients on tax strategies, pension funds, retirement plans, estate planning, and charitable giving, the release said.
Martingale Investment Group is led by 31-year industry veteran Ron Kapraun and Julie Bjorklund. The firm has served families and small businesses for more than 30 years.
The Strutzels said they were seeking a firm with a strong sense of community where they would be considered as more than just business partners. “Cetera and Summit provide growth and business-building resources that will redefine the trajectory of our business that are not available elsewhere. We are proud to join such a welcoming community and to call this our long-term home,” the said in a statement.
Kapraun, too said, they were seeking a more collaborative and client-first partnership, “and Cetera and Summit share and embrace our values. We welcome this change and look forward to enhancing our business and continuing to provide the best service to our clients.”
El Segundo, Calif.-based Cetera is an independent broker-dealer network with five separate IBDs in its network. The firm oversees $340 billion in assets under administration and $119 billion in AUM, as of June 30. Summit is the largest region within Cetera Advisor Networks