Cetera Reports More Than $3.6B in New Assets For Q2

In May, Skafco, a financial planning team managing about $300 million, left Mass Mutual to join Cetera's branch community, while Sonnenfeld Financial Group and Lincoln Capital, two teams that collectively manage almost $400 million combined, affiliated with regions within Cetera Advisor Networks.

"We are pleased with our accelerated business development results as we continue to attract growth-minded financial professionals who value independence and industry-leading tools, resources and support," said John Pierce, head of business development at Cetera.

"Our expanded sourcing and engagement team is deeply committed to making sure that financial professionals understand the value of affiliating with Cetera, and the onboarding and integration team leads the industry in helping financial professionals affiliate with Cetera quickly and seamlessly," he said in a statement.

"We expect continued positive momentum as our teams execute our strategic plan and financial professionals increasingly embrace a more personal and independent model for their practice," he added.

Cetera oversaw about $353 billion in assets under administration and $122 billion in assets under management as of Dec. 31, it said.

(Pictured: John Pierce, head of business development at Cetera)