Cetera Financial Group Acquires Voya Financial Advisors' Independent Financial Planning Channel
June 9, 2021
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.
- Buyers
- Cetera Financial Group
- Targets
- Independent financial planning channel of Voya Financial Advisors
- Sellers
- Voya Financial Advisors (unit of Voya Financial)
- Industry
- Financial Services
- Location
- United States
- Transaction Type
- Divestiture
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