Cetera Takes Stake in $2.8B Wealth Firm

By Janet Levaux

News January 25, 2024 at 09:26 AM

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Cetera Financial Group says it has taken a minority stake in Wilde Wealth Management, which works with $2.8 billion in assets under administration and over 40 advisors in the Southwest. The investment is the 13th made by Cetera in an advisory firm over the past 12 months.

"Through this partnership, we look forward to even closer collaboration with Wilde Wealth in achieving shared goals and growing together to benefit the Wilde Wealth team, advisors and their clients," said Jeffrey Buchheister, Cetera's chief financial officer.

Advisors with Wilde Wealth have been affiliated with Cetera Advisors since 2007.

"I am thrilled about the transformative impact our enhanced partnership with Cetera will bring, propelling our growing platform to become the preferred destination for top-tier advisors and high-net-worth clients alike," said Trevor Wilde, Wilde Wealth CEO.

Cetera now works with 12,000-plus financial professionals and their teams, who oversee about $475 billion in assets under administration and $190 billion in assets under management.

In November, it wrapped up its $1 billion purchase of Avantax, which included at the time about 3,100 financial professionals representing $82 billion in AUA and $42 billion in AUM.

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