Focus on Credit Unions, Banks Helps Cetera Post Record Assets in ’18
Louis Diamond Quoted
By Michael Thrasher
Banks and credit unions helped Cetera Financial Group recruit more than 800 financial advisors to the company in 2018, and more than $5.3 billion in assets under administration, the firm said.
“[Bank and credit union-based brokers] are a really good channel because they are typically in smaller markets and they are partnering with smaller community banks that don’t have a wealth management unit, so they are able to add value to the institution,” said Louis Diamond, executive vice president of recruiting firm Diamond Consultants. “And from the advisors’ standpoint, it’s a really good way to grow your business because you get a lot of referrals or leads from the bank.”