Cetera Financial Group

Mike Durbin on Cetera's M&A plans, why consolidation will barrel forward in the wealth management industry and the advantages of having a hybrid firm.

Independent broker-dealers have found happy acquiring grounds in the insurance industry in recent years, as sellers seek to avoid heavy regulation and thinner margins.

A pair of wealth managers stand accused of allocating trading gains to themselves and losses to their clients in a way that had "nearly zero" chance of happening at random.

The giants of the channel grabbed most of the spots in the rankings, but some of their smaller or midsize rivals are also expanding quickly.

Slight shifts in the makeup of the biggest firms in the channel reflect a more complicated picture than sheer dominance by the giants at the top.

LPL Financial, Cetera Financial Group, Raymond James, Ameriprise and other industry giants drove a much bigger volume of transitions this year.

Avantax's parent had sued two firms owned by its future buyer and one of its major branches prior to the agreement to go private in a billion-dollar acquisition.

Expanding its footprint at the intersection of tax and wealth management, Cetera faces challenges in the execution of its growth goals, experts say.

Despite falling stock and bond values last year, firms operating in the channel collectively boosted their business. These are the biggest companies among them.

The deal represents the second major purchase by Genstar Capital-backed Cetera in 2023.