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Cetera Continues Acquisition Spree with Addition of $1.4 Billion RIA

Service Providers

Cetera Holdings, the holding company of Cetera Financial Group, announced this week that it has acquired The Retirement Planning Group (TRPG), an independent registered investment advisory firm headquartered in Leawood, KS.

Image: Shutterstock.comAccording to the announcement, TRPG serves high-net-worth individuals, families and retirees and manages approximately $1.4 billion in assets under management (AUM) across approximately 1,825 client accounts with 40 employees, including 14 advisors, as of April 30, 2023.

In addition to holistic financial planning services, TRPG provides tax solutions as well as payroll and bookkeeping services to assist wide-ranging wealth management needs.

Kevin Conard serves as CEO of TRPG. In addition to Leawood, the firm has offices in St. Louis, MO, and Denver, CO.

“We admire and embrace TRPG's values and commitment to helping investors reach their version of financial wellbeing through all life stages,” Cetera Holdings CEO Mike Durbin said in a statement.

“This acquisition is synergistic on many levels and represents our commitment to constantly identify and deliver multiple options that give advisors a depth of choice and flexibility to affiliate their business with Cetera as they see fit,” added Durbin. “To that end, we anticipate close collaboration as we continue to define a new affiliation model through our Wealth Hub that marries the principles of independence with the support and resources of employee services.”

Adds Conard, “This partnership sets us up for a bright future as we continue to attract advisors seeking to focus more on taking care of their clients and less on the operational aspects of running a business. Cetera is a great cultural fit for our employees and our clients, and we are excited and honored to call Cetera home.”

The transaction represents the latest growth mark for Cetera, which has completed multiple investments in advisory practices in recent months, including minority investments in NetVEST Financial, and Prosperity Advisors. In January, Cetera announced that that it has entered into a definitive agreement to acquire the retail wealth business of Securian Financial Group. In May, Cetera announced that it appointed Mike Durbin CEO of Cetera Holdings.

Home to more than 8,000 financial professionals and their teams, Cetera oversees approximately $330 billion in AUA and $116 billion in AUM, as of March 31, 2023.