HomeLife InsuranceCetera Choices Up Extra Investment From Primary Investor

Cetera Choices Up Extra Investment From Primary Investor

Cetera Monetary Workforce says Genstar Capital is creating a reinvestment in its industry. The non-public fairness company, which is Cetera’s majority investor, got its first stake within the impartial broker-dealer crew in 2018. 

The inside track comes not up to a month after Cetera introduced plans to purchase Avantax, previously Blucora, in an all-cash transaction for $1.2 billion. Dallas-based Avantax has some 3,075 monetary execs keen on tax and wealth control, in addition to just about $83.8 billion in property beneath management and $42.6 billion in property beneath control.

“Over the last 5 years, Cetera has grown from roughly 7,000 advisors and 1,300 workers supporting $242 billion of property beneath management in 2018 to [about] 9,000 advisors and a couple of,000 workers supporting $374 billion of AUA these days,” in step with Cetera Monetary Workforce CEO Adam Antoniades. 

Genstar’s newest funding in Cetera will basically come from its latest fund, Fund XI, and further capital from Fund X. General, Genstar has some $49 billion in property beneath control. 



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