Los Angeles-based Cetera Financial Group’s five independent broker-dealers are embarking on a three-pronged strategy in 2020 focusing on hybrid RIAs, same-store expansion of existing clients and inorganic growth through recruiting and M&A deals, Stinson says. In an interview with FP Senior Editor Tobias Salinger, he described Cetera’s approach to each area.
Stinson didn’t reveal much detail about the plans for a corporate platform aimed at attracting hybrid RIA assets back to Cetera. But he says “all things are open to us” as the firm assesses its next steps for serving advisors that are moving towards setting up their own RIAs, trying to drop their hybrid entities or becoming interested in being fee-only under a corporate RIA.
“All of our initiatives around this approach are really wedded around trying to solve for those three core challenges that everybody sees out there in the industry,” Stinson says. “We have three core priorities this year. And the third priority on that list is delivering a more robust hybrid offering that will not only enable our existing advisors but also attract advisors that are not affiliated with Cetera today. So there’s some robust thinking going on, and [we’re] anticipating delivering something later on this year.”