Cetera’s Summit Financial Brings on $325 Million AUA Adviser Team From Commonwealth
The nine-person team comprising Rally Wealth and Benefits has joined Summit Financial Networks, a Cetera Advisor Networks affiliate. The firm – led by Bruce Glenn, president, and his daughter Kristina Strickland, managing partner – provides comprehensive financial planning and investment advice to clients and had more than $325 million in assets under administration as of March 1, 2024.
Rally Wealth was formerly with Commonwealth Financial Network.
“Right away, the whole team was interested in the way Cetera and Summit Financial can provide us a boutique feeling while also giving us access to the unparalleled resources and services of Cetera, a large player in the space,” Glenn said. “In particular, we are eager to take advantage of Cetera’s Retirement Solutions, which we know has been accelerating recently. Overall, we anticipate seeing a boon to our practice while at Cetera, and we believe our clients will feel the difference, too.”
“Bruce, Kristina and the entire Rally Wealth and Benefits team are known as accomplished advisers, and I’m proud to welcome them to our community,” said Tom Halloran, Cetera Advisors president and chief executive officer. “I know this team will thrive under our unique model – and I look forward to seeing how we work together moving forward.”
Glenn and Strickland have a combined 26 years of industry experience. Glenn holds his FINRA Series 6, 7, 24, 63, and 66 registrations and his designations include CRPS and AAMS. Meanwhile, Strickland holds her FINRA Series 6, 63, and 65 registrations as well as her CPFA designation. The team was started when Glenn entered the securities industry in 2008 and has continued to grow since Strickland joined the firm in 2013.
The rest of the team, based in Overland Park, Kan., includes Carrie White, vice president of operations; Joe Michael, QPFC, vice president of qualified plans; Neil Connolly, CFP, senior wealth manager; Melissa Sampley, senior relationship manager; Bailey Lucito, relationship manager; and associates Lisa Kennell and Danica Murdock-Colin.
Earlier this year, Summit Financial lured a $312 million practice, Regal Wealth Advisors, from LPL Financial.
According to Summit Financial, the firm is the highest gross dealer concession per adviser region within Cetera Advisor Networks, which in turn, is the largest of the four broker-dealers comprising Cetera Financial Group. Cetera Advisor Networks has more than 4,000 advisers operating from over 45 regions.
Cetera Financial Group, which is owned by Cetera Holdings, serves more than 12,000 independent financial professionals and their teams, including tax professionals, banks, and credit unions in providing financial planning and wealth management services. Cetera oversees more than $505 billion in assets under administration and $213 billion in assets under management, as of March 31, 2024.
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