10.08.24

Cetera Inks Deal for Hybrid RIA Concourse Financial Group Securities

by: Leo Almazora

Cetera Financial Group is acquiring Alabama-based Concourse Financial Group Securities (CFGS), a subsidiary of Protective Life Corporation. The deal will see approximately 350 financial professionals from CFGS transition to the Cetera Wealth Partners community. Mike Durbin, who joined Cetera Holdings as CEO from Fidelity in May last year, emphasized the importance of this acquisition in the context of the broader industry. "Cetera has a proven track record of acquiring and successfully integrating independent broker-dealers affiliated with insurance organizations, and Concourse Financial Group Securities represents a tremendous opportunity in today’s rapidly consolidating market," he said.

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