Cetera snags $2.4 billion team from MassMutual

Cetera snags $2.4 billion team from MassMutual
Called Totus Wealth Management, the group had been registered until the end of last month with MML Investors Services, the broker-dealer arm of MassMutual, the insurance company, according to BrokerCheck.
MAY 05, 2021

Cetera Financial Group said on Wednesday it had recruited a large team in Texas with $2.4 billion in wealth management assets.

Called Totus Wealth Management and led by its CEO James Starnes, the group had been registered until the end of last month with MML Investors Services, the broker-dealer arm of MassMutual, the insurance company.

According to BrokerCheck, Starnes is a 20-year veteran of the industry and was registered with MML from March 2017 through last month. He is now registered with Cetera Advisors.

2021 is turning into a red-hot recruiting year for the brokerage industry. More than 4,000 advisers and brokers switched firms in the first quarter of the year, putting 2021 on pace for record industry recruitment activity, according to InvestmentNews research.

Totus is Latin for "the whole or total" and inspires the firm’s approach to client service, Cetera said in a statement. 

Starnes will be joined by a team of six producing financial professionals and four support staff with plans for immediate growth. The firm is located in Houston and has offices in Woodlands, Texas, and plans to expand, the company said.

Last month, Cetera said it had recruited The Advisors, a hybrid team based in Murrysville, Pennsylvania that manages $340 million in assets, from LPL Financial.


Latest News

LPL building out alts, banking services to chase wirehouse advisors, new CEO says
LPL building out alts, banking services to chase wirehouse advisors, new CEO says

New chief executive Rich Steinmeier replaced Dan Arnold on October 1.

Franklin Templeton CEO vows to "do what's right" amid record outflows
Franklin Templeton CEO vows to "do what's right" amid record outflows

The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.

For asset managers, easy experience is key to winning advisors' businesses
For asset managers, easy experience is key to winning advisors' businesses

Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.

Why retaining HNW clients ultimately comes down to one basic thing
Why retaining HNW clients ultimately comes down to one basic thing

New survey finds varied levels of loyalty to advisors by generation.

Stocks drop as investors digest Microsoft, Meta earnings
Stocks drop as investors digest Microsoft, Meta earnings

Busy day for results, key data give markets concerns.

SPONSORED Out with the old and in with the new: a 50% private markets portfolio

A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.

SPONSORED Destiny Wealth Partners: RIA Team of the Year shares keys to success

Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.