Summit Moves to Become Newest Region at Cetera, Strengthening Support for its Affiliated Advisors
Los Angeles, CA – Cetera, at the initiation of its broker-dealer firm Summit Brokerage, will be bringing that business under Cetera Advisor Networks as an independent advisor group, known at Cetera as a region. Summit’s decision to become Cetera’s newest region reflects the benefits of that model, which alleviates the operational and regulatory burdens of operating as an independent broker-dealer. As a region, Summit will be able to dedicate its focus entirely to supporting its advisors while retaining fundamental attributes that make it attractive to its affiliate advisors, including its brand, current leadership and boutique-oriented culture.
The Summit region, with over 450 financial advisors supporting over $17.5 billion in client assets, will become one of the largest of Cetera’ regions this summer, pending FINRA approval. Marshall Leeds, President of Summit, will continue to lead the organization as its president, with his existing management team, preserving the strong relationships with and support for Summit advisors. Leeds will also be Regional Director of the Summit region, reporting to Tom Taylor, President of Cetera Advisor Networks. The Summit region will retain its headquarters in Boca Raton, FL.
“Providing the best possible service and growth solutions to our advisors is at the core of everything we do,” said Leeds. “Removing the operational and regulatory challenges of operating a broker-dealer will allow the Summit region to be fully focused on enhancing the advisor experience, elevating our award-winning service model and recruiting new advisors. We anticipate a seamless transition, and the initial sentiment with advisors and employees is high.”
Taylor added, “We always seek to create the best set of conditions for our advisors to experience above-standard industry growth. We believe that Cetera’s regional model enables advisor groups to focus exclusively on their business of supporting clients, while retaining their autonomy and unique culture and brand. Our regional model continues to grow, with 41 regions and nearly 3,500 advisors.”
Adam Antoniades, President of Cetera, said, “One of the unique benefits of affiliating with Cetera is freedom of choice: we are committed to supporting independent advisors and advisor groups in how they choose to operate as a business. Our team, our advisors and their clients benefit most when we are able to dedicate our focus and energy to our purpose of advancing an Advice-Centric Experience®. Summit’s decision to become a region is a win-win for Cetera, creating operational simplification that enables a more enhanced advisor experience.”
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 service provider 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, and First Allied Securities. All firms are members FINRA/SIPC.