Cetera to Acquire Assets of Foresters Financial’s Brokerage and Investment Advisory Business
April 10, 2019 by The Wealth Advisor Contributor
As it continues to expand the reach of its Advice-Centric Experience, Cetera has entered into a definitive agreement to purchase select assets of Foresters Financial’s U.S. broker-dealer and advisory business.
The transaction, which is subject to regulatory approval, is expected to close late in the second quarter of 2019.
Financial terms of the transaction will not be publicly disclosed.
As part of the asset purchase agreement, Cetera will be permitted to invite Foresters Financial’s approximately 500 independent financial advisors to join Cetera’s self-clearing platform.