Cetera Financial Group Builds on Successful Performance with Launch of Capital Structure Review Aimed at Lowering Capital Costs and Accelerating Growth
Retains Goldman Sachs & Co. LLC As Part of Broader Plan to Drive Continued Business Momentum
Los Angeles, CA – Cetera Financial Group® ("Cetera")*, a leading network of independent firms supporting the delivery of professional financial advice, has announced the launch of a capital structure review with the objective of optimizing its capital structure, lowering costs and maximizing continued investments to drive forward the future of the financial advice profession. In a related move, Cetera has retained Goldman Sachs & Co. LLC to support the capital structure review process, with an emphasis on identifying strategies that will continue the success and momentum behind the company's financial performance and strategic direction.
Robert Moore, CEO of Cetera, said, "Our recent financial success and robust business performance coupled with the future trajectory of our profession, make this the opportune time to review our capital structure."
About Cetera Financial Group®
Cetera Financial Group ("Cetera") is a leading network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.
Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations. Advisor support resources offered through Cetera include award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology. For more information, visit cetera.com.
* "Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities, and Summit Brokerage Services. All firms are members FINRA/SIPC.