First Allied Securities Inc., part of the Cetera Financial Group network of broker-dealers, has announced that it has closed. Before the pandemic, First Allied had close to 600 advisors generating an average of $263,000 in annual fees and commissions in 2018, according to AdvisorHub.

The First Allied - brand now will operate under Cetera. According to a spokesperson, Cetera's strategy in closing First Allied was similar to how it recently closed former broker-dealer, Summit Brokerage Services Inc. Advisors now will have access to an enhanced tech stack and Cetera's unified workstation known as AdviceWorks.

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