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Private equity firm Genstar has purchased a majority stake of Cetera for roughly $1.7 billion, which has put an end to speculation that the broker-dealer will be rolled into a rival firm, such as the Advisor Group or LPL Financial. So reports Financial Planning.

Cetera consists of six separate firms representing 7,772 advisors that generated $1.8 billion in revenue last year.

Read the full article from Financial Planning.

Last modified on Saturday, 21 July 2018
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