Cetera Investment Services, a financial services provider, has announced a partnership with Morgan Stanley and UBS Investment Bank. The partnership will provide Cetera's independent financial advisors, tax professionals, banks, and credit unions with full access to the services of these two banking giants. Morgan Stanley and UBS Investment Bank are acting as financial advisors and Willkie Farr & Gallagher LLP is acting as legal advisor to Cetera.
Founded in 1983, Cetera now has more than 8,000 advisors across its platforms—Cetera Advisors, Cetera Advisor Networks, Cetera Investment Specialists, and Cetera Financial Institutions. The company said it's comprised of four broker-dealer communities: Cetera Advisors, Cetera Advisor Networks, Cetera Investment Specialists, and Cetera Financial Institutions.
The firm joins Cetera from Securities America with more than 70 advisors across five northeastern states as well as Nebraska and Florida. Cetera Investment Advisers now owns 1,604 shares of the financial services provider's stock valued at $232,000 after acquiring an additional 6,537 shares during the last quarter.
Cetera Investment Advisers now owns 16,141 shares of the financial services provider's stock valued at $2,977,000 after purchasing an additional 2,537 shares during the period. This partnership will deliver to Cetera's independent financial advisors, tax professionals, banks, and credit unions full access to the services of Morgan Stanley and UBS Investment Bank.
The services offered by Morgan Stanley and UBS Investment Bank include Investment banking, financial planning, retirement planning, asset management, and wealth management. With this partnership, Cetera will be able to take advantage of these services which will help them to better serve their clients.
Cetera Investment Advisers now owns 21,603 shares of the company's stock valued at $563,000 after purchasing an additional 2,424 shares during the last quarter. In addition, Cetera Investment Advisers now owns 17,863 shares of the company's stock valued at $3,543,000 after buying an additional 1,722 shares during the period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Cetera Investment Advisers now owns 15,978 shares of the financial services provider's stock valued at $2,833,000 after purchasing an additional 2,825 shares during the last quarter.
The partnership between Cetera Investment Services and Morgan Stanley and UBS Investment Bank is an important milestone for the company. With the help of these two banking giants, Cetera will be able to provide their clients with the best Investment services and advice.
