Cetera Financial Group has announced the deresignation of one of its RIAs, Cetera Advisors, effectively merging it into Cetera Investment Advisers.

Cetera executives told WealthManagement.com that the move aims to streamline operations and achieve significant cost savings, which will be reinvested into tools and resources to support advisor growth and benefit clients.

Cetera Investment Advisers will now serve as the primary RIA for "legacy Cetera communities" alongside two other registered entities: Cetera Advisory Services and Cetera Investment Management. Cetera Advisor Networks, another RIA under Cetera's umbrella, was closed and consolidated in the previous year.

The consolidation of Cetera Advisor Networks reflects Cetera's broader strategy of consolidating its broker/dealer entities over the years, including Investors Capital Corp., VSR Financial, Summit Brokerage Services, and most recently, First Allied in 2022. As of December 2023, Cetera boasts over 12,000 advisors overseeing over $475 billion in assets under administration and $190 billion in assets under management.

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