Cetera Financial Group plans to acquire Concourse Financial Group Securities, adding 350 advisors and $4B in assets.

Cetera Financial Group plans to acquire Concourse Financial Group Securities from Protective Life Corporation by early next year. This deal adds 350 advisors and nearly $4 billion in managed assets, contributing to Cetera's strategy of expanding its wealth management services. The acquisition follows a trend of insurance companies divesting their wealth management divisions amid regulatory challenges and reduced profit margins.

October 08, 2024
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