Ex-Northwestern Mutual Firm With $1.8B in Assets Joins Cetera
Cetera has added Pillar Financial Group, led by seven partners and a 34-member advisory team. The Seattle-based firm brings approximately $1.8 billion in assets under administration including over $500 million in retirement plan assets and has joined the Cetera Advisors community from Northwestern Mutual Investment Services LLC.
Pillar Financial Group is a multigenerational fiduciary firm that creates customized financial plans for every client. The team serves individuals, families, and businesses across their communities and has expanded through both organic growth and acquisitions.
“We wanted a firm we could grow with, and Cetera’s leadership team not only shares our vision but has the scale and focus on technology to support our growth for the long term,” said Luke Madsen, chief executive officer. “While many large broker-dealers are navigating mergers and acquisitions, Cetera’s measured approach to growth ensures we’ll receive the personalized attention we need to focus on our clients. For us, that was the deciding factor.”
Madsen noted that Cetera’s expanding platform supports the firm’s ability to continue to deliver advanced estate planning and high-net-worth solutions, including alternative investments, and also, integrates tax planning. He emphasized the firm’s commitment to providing succession opportunities to senior advisers while focusing on developing the next generation of advisers.
“Our focus is putting highly credentialed, sophisticated advisers in front of clients – not chasing transactions,” Madsen added. “Pillar is a place where younger advisers can learn, grow, and ultimately become partners. We also believe we are a perfect destination for advisers in the twilight of their careers and have built our firm to provide the resources clients expect from advisers that always have the support they need.”
Keith Foe, partner and wealth management adviser, highlighted Pillar’s unique approach to succession planning: “With advisers ranging from their 20s to their 60s, we can provide retiring advisers with a thoughtful succession plan while ensuring their clients are supported by trusted next-generation professionals. We want advisers to know they don’t have to fully retire to transition their business. They can sell their book sooner and still control their timeline for client handoffs.”
It’s already been a busy month for Cetera. Reported by AltsWire on Oct. 7, a Manalapan, N.J.-based multifamily office – King Financial Network, led by Jim King Jr. – moved from Commonwealth Financial Network to Summit Financial Networks, one of Cetera’s communities within the Cetera Advisor channel. It reported overseeing $1.1 billion in assets under administration.
Tom Halloran, Cetera Advisor channel leader welcomed Pillar Financial Group, saying: “Luke and his team are deeply principled and client-first. They value independence and want the flexibility of an open architecture, which Cetera provides in contrast to the more restrictive insurance model. We’re eager to support Pillar Financial Group as they expand capabilities and serve a growing base of high-net-worth clients.”
Owned by Cetera Holdings, Cetera Financial Group offers financial professionals and institutions the latest solutions to grow, scale, or transition with a merger, sale, investment, or succession plan. Cetera serves independent financial advisers, tax professionals, licensed administrators, large enterprises, as well as institutions. Home to approximately 12,000 financial professionals and their teams, Cetera oversaw more than $590 billion in assets under administration and $263 billion in assets under management as of June 30, 2025.
Click here to visit the AltsWire directory page.
