Cetera Acquires $1.9B Team into RIA Channel

Core Insights - Cetera has acquired a $1.9 billion wealth management team from Lafayette, Louisiana, integrating it into its RIA channel, Avantax Planning Partners [1][2] - The acquisition includes six advisors and six support staff from Darnall Sikes Wealth Partners, who will now be employees of Cetera's RIA division [2] - A strategic partnership has been established between Cetera and the independent CPA firm Darnall Sikes & Federick, which the advisors were previously affiliated with [2] Company Overview - The Darnall Sikes Wealth team, led by advisor Jed Inzerella with over 27 years of experience, serves individuals, families, and business owners across four locations in Louisiana and clients in 40 states [3] - The move to Avantax was motivated by the need for succession solutions and the opportunity to evolve within the Cetera network [3] Strategic Developments - Cetera launched a dedicated RIA and Branches Channel in June, focusing on supported RIA options and independent branches under the leadership of President Jen Hanau [4] - As of September 30, Cetera manages $625 billion in assets under administration and $284 billion in assets under management across more than 12,000 advisors [5] - The Avantax division oversees $41 billion in client assets, following Cetera's acquisition of Avantax in 2023 [5]