Cetera Acquires Voya Advisors, $40B In Assets

Cetera announced a deal today to acquire certain assets related to the independent financial planning channel of Voya Financial Advisors (VFA).

Through this acquisition, VFA independent financial professionals providing holistic financial planning to 385,000 retail customers with nearly $40 billion in assets will become part of Cetera. By joining Cetera, the financial professionals will gain "comprehensive, leading-edge growth capabilities, with increased flexibility and choice as independent business owners," Cetera said in a news release.

Adam Antoniades, CEO of Cetera, said, "We have always respected VFA's commitment to their business owners, independent operating model and strong community of financial professionals. We share an unwavering purpose in providing more American investors with sound independent financial guidance. By helping financial professionals grow and by bringing new financial professionals to the network, Cetera continues to empower more financial professionals to deliver an Advice-Centric Experience® to more clients. We meet financial professionals where they are to help them grow the businesses of their dreams and leave the legacy they envision."

Cetera's exclusive focus on the delivery of financial advice and its ability to accelerate growth for its financial professionals aligns with the goals of VFA's independent network, the release said. With today's announcement, the team and independent financial professional network from VFA will form a distinct business within Cetera, as part of Cetera Advisor Networks.

It will continue to be led by Tom Halloran, president, as well as key leadership and dedicated service teams who will also join Cetera and continue to serve their financial professional community as they do today.

Tom Halloran said, "Our team at VFA and our independent financial professionals are excited to be joining Cetera as we build on the legacy and progress we've made over the last seven years. We are energized by Cetera's industry-respected mission to help independent financial professionals provide financial wellness to clients at each life stage. Cetera's commitment to the independent model is the right fit for our business owners, giving them increased flexibility and scale. There is a long list of award-winning and transformative resources our financial professionals have to look forward to as part of Cetera: the firm's deep domain expertise, growth-generating programs and leading-edge technology for an enhanced client experience, risk management, advisory and more. These will help our network of independent financial professionals grow and build upon the momentum we have already created as we continue to serve clients in a rapidly transforming industry."

Tom Taylor, Chief Sales and Growth Officer at Cetera, added, "We are eager to begin working with VFA financial professionals to accelerate their goals for growth and client service. Our differentiated model for supporting multiple affiliation choices through distinct communities enables us to quickly augment capabilities for new members of our network. As part of Cetera's community of large enterprises, VFA financial professionals will be able to retain their long-standing relationships. They also keep their independent culture, leadership and way of doing business while benefiting from Cetera's breadth of resources for growth and productivity."

This report compiled by InsuranceNewsNet staff.