Cetera Advisor Networks LLC

CRD#13572
Investment Advisor Firm

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Overview

Cetera Advisor Networks LLC operates as a financial advisor company headquartered in El Segundo, California. The firm handles $46.7 billion in assets under management over 192,956 client accounts, making it one of the biggest firms in the United States by assets under management (AUM). The firm has a very large team, including 2,499 financial advisors. Cetera Advisor Networks LLC does not act as a registered broker-dealer, signifying that the firm is not able to buy and sell securities for its customers' and own accounts and instead is required to go through a broker-dealer company to do so. Securities are defined as exchangable fiscal assets such as bonds, equities and options.

Cetera Advisor Networks LLC administers 164,494 of the company's accounts on a discretionary basis. Discretionary management is a structure in which transaction judgments for the client's account are made by an investment advisor without requiring the customer's consent. The firm also administers 28,462 non-discretionary accounts with a total of $8.7 billion in assets under management. The investment advisory firm oversees roughly $241,772 in assets for each client account. The average advisor at Cetera Advisor Networks LLC administers around 77 client accounts.

The company's headquarters is at 2301 Rosecrans Avenue, El Segundo, California 90245-5672. Cetera Advisor Networks LLC is allowed to provide services to clients throughout 51 U.S. states and territories.

Assets Under Management

$46.7 billion

Number of Advisors

2,499

Disclosures

No

Office Location

2301 Rosecrans Avenue
El Segundo, CA 90245-5672

Cetera Advisor Networks LLC by the Numbers

Total Assets Under Management

$46.7 billion

National Average: $8.6 billion
Total Number of Employees

2,881

National Average: 64
Total Number of Accounts

192,956

National Average: 375,227
Average Account Size

$241.8 thousand

National Average: $23.0 thousand
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Products and Services

Cetera Advisor Networks LLC offers a variety of services, which can include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers and educational seminars. In the past financial year, the company provided 2485 of its accounts with financial planning services. The company is involved in selling products or offering services aside from investment advice to its clients. The company is affiliated with a number of other companies in the financial services industry, including with a broker-dealer or securities dealer, insurance company or agency and pension consultant.

Core Advisor Services

  • Offered by 31% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 46% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 20% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Find a firm that offers this service

    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 6% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Fees charged by financial advisors depend on which services are offered. However, fee types charged by the firm most likely consist of some blend of the following fee structures: asset-based, hourly, fixed or commission-based. Cetera Advisor Networks LLC participates in a wrap fee program, in which the firm offers a service bundle for a comprehensive fee.

Available

  • Offered by 69% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 21% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 1% of firms

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Offered by 32% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 26% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 10% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

The company works with a broad range of investors. The firm caters to retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities and corporations. Out of its 192,956 clients, Cetera Advisor Networks LLC's biggest client group by number of accounts is retail investors, though it also serves 52,058 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 under management or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's clients are non-U.S. persons.

  • High-Net-Worth Individuals* - 26.98%
  • Other Individuals - 71.39%
  • Corporations - 1.29%
  • Charitable Organizations - 0.34%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Cetera Advisor Networks LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Cetera Advisor Networks LLC

Jeffrey Parkin
Vancouver, WA
Pamela Rosse
Concord, CA
Gregory Jahnke
Sutton, NE
Frank Gargano
Neptune, NJ
Ian Lee
Concord, CA
Thomas Taylor
El Segundo, CA
Ernest Mathewson
Florham Park, NJ
Suzanne Baxter
Oklahoma City, OK
Thomas Nisivoccia
Edison, NJ

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