National Securities Loses $2.5B FA Group to Arete Wealth

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Arete Wealth says it has lured a “super branch” of dozens of registered representatives from National Securities.

In all, 66 financial professionals across five East Coast locations — representing more than $2.5 billion in combined cllient assets — have joined Arete as Fincadia Group, according to the firm.

The companies didn’t disclose the financial terms of the “liftoff,” which became official on July 19.

One of the key draws for the group was Arete Wealth’s alternative investment offering, founder and chief executive officer Joshua Rogers said in the announcement. The company expanded its alternatives capabilities in November last year when it reached a two-year agreement to act as a co-managing broker-dealer, underwriter, and placement agent for all of Materworks’ art securities products offered in primary offerings, according to Arete.

The addition of Fincandia is Arete’s second major deal in 18 months, following the January 2021 acquisition of Nashville, Tennessee-based Center Street Securities, Arete says in the announcement, adding that it has retained 98% of Center Street’s registered representatives to date.

“When we realized there was an opportunity to recruit this large group of productive, highly respected financial advisors, we took immediate action,” Rogers said in the announcement. “The addition of Fincadia Group, coming shortly after last year’s successful purchase of Center Street, demonstrates Arete Wealth is determined to continue expanding at an industry-leading pace.”

Founded in 2007, Chicago-based Arete Wealth now has 318 registered representatives overseeing $8.5 billion in client assets from 97 offices across the U.S., according to the company.

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