Cetera Financial Group Acquires Darnall Sikes Wealth Partners' Wealth Management Business

Cetera Financial Group Acquires Voya Financial Advisors' Independent Financial Planning Channel

June 9, 2021

Financial Services

Cetera Financial Group completed the acquisition of certain assets related to the independent financial planning channel of Voya Financial Advisors, creating a new business, Cetera Wealth Partners, with approximately $37 billion of assets under administration. The deal retained the channel's management team and more than 90% of its financial professionals (and over 93% of the assets under administration), and brought over 130 employees from Voya to Cetera.

Cetera Acquires Plains Wealth Management

January 29, 2026

Financial Services

Cetera Financial Group has completed the acquisition of Plains Wealth Management, a Houston-based independent wealth management practice that oversees approximately $400 million in client assets. The Plains team will join The Retirement Planning Group (TRPG), Cetera's employee-based RIA, expanding TRPG's footprint into the Houston market and providing the Plains team with growth and succession options.

Cetera Holdings Acquires Avantax

November 27, 2023

Financial Services

Cetera Holdings (the holding company of Cetera Financial Group) completed the acquisition of Avantax, Inc. for $26.00 per share in cash, taking Avantax private. The deal adds Avantax's tax-focused wealth management capabilities — including 3,111 financial professionals and approximately $82.3 billion in assets under administration — to Cetera's advisor platform and strengthens its tax-centric offering and multi-custodial capabilities.

Cetera Financial Group Acquires Powell Financial Partners

August 3, 2023

Financial Services

Cetera Financial Group has acquired Powell Financial Partners, an independent wealth management firm based in Georgetown, Texas. The deal brings the three-person Powell team into the Cetera Wealth Partners community and supports succession planning, practice monetization, and continued service for the firm's retirement-focused clients.

Cetera Acquires MAGIS Financial Partners

March 9, 2021

Financial Services

Cetera Financial Group has acquired MAGIS Financial Partners, a Philadelphia-area RIA managing roughly $490 million in client assets, and will transition MAGIS’s separate RIA onto the Cetera platform. The deal, which supports succession for MAGIS’s ownership group and aims to fuel growth for the firm’s producers led by President Steven Zimmerman, was not disclosed financially; MAGIS was previously owned by a Genstar portfolio company.

Wealthcare Acquires Sommers Financial Management

January 12, 2023

Wealth Management

Wealthcare Advisory Partners LLC, a NewSpring Holdings platform company and technology-enabled full-service RIA, has acquired Sommers Financial Management, a fee-only registered investment advisor founded in 2002. The deal expands Wealthcare's direct advisory footprint and adds advisors located in Scappoose, Oregon and Tucson, Arizona to its network of more than 150 advisors managing roughly $5 billion in AUM.