Cetera Financial Group, the premier financial adviser Wealth Hub, has agreed to acquire Concourse Financial Group Securities, Inc. (CFGS), a subsidiary of Protective Life Corp., via an asset acquisition.
The transaction is expected to close in first quarter 2025, pending regulatory approval. Financial terms of the deal were not disclosed.
Based in Birmingham, Ala., CFGS consists of Protective’s affiliated retail distribution system, dually registered broker-dealer and registered investment adviser. The acquisition is expected to bring approximately 350 financial professionals who oversee more than $12 billion in assets under administration and $4 billion in assets under management to the Cetera Wealth Partners community.
Aaron Seurkamp, senior vice president and president, protection and retirement division for Protective, said the transaction allows Protective to focus on its core competencies in the life insurance and annuity businesses, while enabling Conco
