Cetera Picks Up $2.5B RIA

Cetera Financial Group has added a registered investment advisor managing over $2.5 billion of client assets from Advisor Group’s Securities America.

The Patriot Financial Group, with more than 70 advisors across five northeastern U.S. states, along with Florida and Nebraska, has affiliated with the Cetera Financial Specialists’ group, Cetera said Tuesday.

The latest development “rounds out a record year of recruiting and business development” for Cetera, it said in a statement. The firm added that it attracted $6.3 billion in assets through its recruiting efforts in the third quarter.

“We are pleased to welcome the Patriot family to Cetera as a valued partner who shares our client-first mindset and growth aspirations,” according to John Pierce, head of business development at Cetera.

“As we continue to evolve our strategies to help advisors and firms meet their goals, this partnership is focused on growth and designed to help both firms thrive for the long-term,” Pierce added.