Cetera Acquires MAGIS Financial Partners
March 9, 2021
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.
- Buyers
- Cetera Financial Group
- Targets
- MAGIS Financial Partners
- Sellers
- Genstar portfolio company (unnamed)
- Industry
- Financial Services
- Location
- Pennsylvania, United States
- Transaction Type
- Buyout
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