Cetera Lured Advisors With $13B of Assets in 2022

"While 2022 was not without its challenges, we are energized and inspired by our results and optimistic about an even better 2023," according to John Pierce, head of business development at Cetera.

"Strategic investments in our team and programs are reflected in the record numbers, and it is rewarding to see our strategy delivering intended results," he said in a statement on Wednesday. "We are setting our sights even higher in 2023, doubling down on last year's successes with a laser focus on attracting high-quality financial professionals who value a sense of community and industry-best solutions, resources and support."

Key 2022 Cetera recruiting wins included The Patriot Financial Group, an RIA managing over $2.5 billion in assets joining Cetera from Securities America in December; Burrows Capital Advisors, with more than $3 billion in assets under advisement, affiliating with Cetera Advisors through Totus Wealth Management in September; and Harvest Wealth, which managed $1 billion in assets, joining Cetera from Merrill Lynch in June, Cetera said.

To further boost its business development team, Cetera recently hired Genevieve Sisco, an 18-year industry veteran that it said has "deep experience in matching the cultures of wealth management firms and advisors," as divisional business development director. Before joining Cetera, she worked in business development at SagePoint Financial and held roles at Cambridge Investment Research and ING Advisors Network.

Cetera's 8,000 financial professionals and their teams oversaw about $322 billion in assets under administration and $115 billion in assets under management as of Dec. 31, the company said.

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