UNLOCK THE POWER OF THE VAULT

Despite parent’s bankruptcy, Cetera recruits $200 million team

April 22, 2016

Empire Asset Management Group was formerly registered with Northern Lights Distributors, a broker-dealer that specializes in mutual fund distribution

Apr 20, 2016 @ 11:04 am | By Bruce Kelly | Investment News

Despite a bankruptcy filing by its parent company, Cetera Financial Group on Wednesday morning announced it had recruited Empire Asset Management Group, an upstate New York team with $200 million in client assets.

Cetera Financial Group’s parent company, RCS Capital Corp., at the end of January filed for a pre-arranged, Chapter 11 bankruptcy reorganization, in which its debt would be converted to equity in Cetera, a network of 10 independent broker-dealers with close to 9,000 registered reps and advisers.

Cetera expects to emerge from bankruptcy by the end of next month as a privately held company controlled by its institutional investors.

Print Friendly, PDF & Email
Go Back
Austin Gross
Blue Vault Broker Dealer Educational Summit
February 23, 2019

Blue Vault has been an important partner to Geneos in providing us and our advisors pertinent information about non-traded products and the industry as a whole. The annual BD Summit is a valuable due diligence experience for any broker dealer."