Cetera Financial Group Completes Strategic Acquisition of Concourse Financial Group Securities, Enhancing Client Services

Cetera Financial Group's Acquisition of Concourse Financial Group Securities: A Major Move in Financial Services

On February 26, 2025, Cetera Financial Group made waves in the financial services sector by successfully completing its asset acquisition of Concourse Financial Group Securities, Inc. This strategic acquisition brings significant assets into the Cetera fold, including over $12 billion in assets under administration (AUA) and approximately $4 billion in assets under management (AUM). Concourse, a subsidiary of Protective Life Corporation, adds around 350 financial professionals to Cetera's existing wealth management ecosystem.

With this acquisition, Cetera aims to enhance its community resources and support structures for financial professionals, allowing them to focus on delivering exemplary service to their clients. Mike Durbin, CEO of Cetera, expressed enthusiasm regarding the transaction, stating, "We are pleased to successfully close this important acquisition with high asset retention exceeding our target, and we welcome the Concourse team to Cetera, where they can keep growing as part of the Cetera Wealth Partners community."

The integration of Concourse’s established network will enable financial professionals at Cetera to leverage an expansive range of resources designed to foster growth and enhance client service. Libet Anderson, President of CFGS, noted the welcoming culture at Cetera and emphasized the support they can receive to achieve their growth objectives, saying, "Cetera has the size, scale and sophistication to support our growth goals, and their community architecture gives us a strong sense of belonging and optimism."

In recent years, Cetera has been actively pursuing an inorganic growth strategy through acquisitions that align with their vision of creating a customer-centric financial services model. Previous acquisitions include the retail wealth business of Securian Financial Group in 2023 and Voya Financial Advisors' independent financial planning channel in 2021, which significantly expanded their assets and professional networks.

This acquisition not only highlights Cetera's commitment to expanding its operational capabilities but also enables Protective Life Corporation to refocus on its core business strengths as they streamline operations within the insurance sector. Aaron Seurkamp, SVP and President of Protective's Retirement Division, stated, "With the completion of this transaction, Concourse Securities financial professionals and clients join leaders in their field with Cetera, and we are confident they will have strong futures."

As Cetera continues to navigate current market trends consolidating within the financial advisory space, the addition of Concourse serves as a vital step towards optimizing their offerings and solidifying their position as a premier financial advisor wealth hub.

For more information on Cetera's services and the latest updates in the financial advisory landscape, visit Cetera's Official Website.