Cetera Buys $4B Affiliated Firm

Since 2015, Cetera has assisted with more than 400 succession transactions like this one, representing $9 billion of AUM, it said.

The broker-dealer network now supports about 8,000 independent advisors, according to its website. In 2018, Cetera's parent company sold a majority stake in the firm to private equity group Genstar Capital.

BAR's Move

In evaluating succession planning strategies, BAR founding partners John Brackett, Eric A. Huck and Anthony Tarantino said the new ownership model provides them with the best path for future growth.

"Cetera now offers us the best opportunity for continued growth with no disruption to our business," Brackett said in a statement. "We look forward to the additional benefits being part of Cetera will bring in terms of resources and scale."

The partners will continue to lead the firm as regional directors for three years, "ensuring a smooth transition and business as usual for their network of independent financial professionals and financial institutions," Cetera said.

BAR's 25 employees will become Cetera staff members but continue to focus on the BAR business.

BAR has five regional offices: one each in Concord and Rancho Cordova, California; Albuquerque, New Mexico; Mechanicsburg, Pennsylvania; and Westlake, Ohio.