Cetera Financial Group (Cetera), an at-scale wealth hub that offers financial professionals and institutions the latest solutions, support and services, announced today that it has made a strategic, minority investment in NetVEST Financial, LLC (NetVEST), an independent wealth and estate management firm in Scottsdale, Arizona, which oversees approximately $350 million in assets under administration (AUA) through Cetera Advisor Networks LLC, as of March 31, 2023. The investment provides a strategic and flexible solution for NetVEST as the firm looks to the future for its clients and the next chapter for its business. NetVEST is owned and operated by founder and branch manager John M. Cartolano*, who is affiliated with Cetera Advisor Networks LLC. A financial services industry veteran, Cartolano has been providing tax-advantaged investment, financial, retirement, and estate planning strategies and services for more than 30 years.
“We are pleased to support John and his team in identifying a mutually beneficial solution that helps maximize the value of NetVEST while providing flexibility and choice for the future,” said Tom Taylor, chief sales and growth officer at Cetera. “As we continue to serve as a wealth hub and meet advisors where they are, it is important that our advisors know that Cetera is here to support them through all stages of their careers to address wide-ranging needs and help solve today’s most pressing challenges.”
“This collaboration reminds us that our business and our clients are in great hands with Cetera, and we look forward to close collaboration with the Cetera team,” Cartolano said. “The investment positions NetVEST to achieve continued growth and to deliver even greater client service while providing flexibility to strategically manage our business for the long term. As we look to the future for our business and our clients, this sets us up for continued success and represents a complementary evolution of our business with Cetera. It also provides the opportunity for local financial professionals to consider joining NetVEST as either employees or independent advisors seeking to maximize their practices by leveraging our proven growth strategies.”
Cetera has made several investments in advisor practices in recent months. These investments position Cetera for growth, hedging the impact of market volatility and economic uncertainty for Cetera and its advisors. Cetera provides a suite of succession solutions, including advisor-to-advisor support, business continuity solutions and practice monetization. In addition, Cetera’s partner practice program provides select advisors the option to have Cetera invest in a minority stake in their firm and utilize agile, proprietary growth solutions and technology to grow their business.
(This news/press release has not been altered by investment.net, apart from the headline, and has been obtained from a syndicated source:- https://www.prnewswire.com/news-releases/cetera-makes-minority-investment-in-350-million-aua-netvest-financial-llc-practice-led-by-industry-veteran-john-m-cartolano)