Employees Executives: Foresters Team

employees executives: The 7,500-advisor network which is backed by private equity firm Genstar Capital agreed to buy select assets of Foresters' U.S. brokerage and RIA, the parties said April 9, according to The Independent. They are not disclosing terms of the deal, which is expected to close late in the second quarter. Cetera aims to add 500 financial advisors to its bank and credit union channel from the insurer, the latest to exit the sector. A major Foresters team decamped to LPL Financial a few days before the deal was announced. Notable growth in Foresters' advisory assets and its training capabilities for new entrants to the industry made the assets attractive to Cetera, Antoniades says, noting Cetera expects to retain many of Foresters' home-office employees and executives. To appeal to the rest of the Foresters advisors managing more than 12 billion in client assets at 40 branches, Cetera will offer transition assistance, according to President Adam Antoniades. (news.financializer.com). As reported in the news.