Assets Under Management AUM

Three teams with over $550 million in assets under management join Cetera

Three advisory firms managing over $560 million in client assets have joined El Segundo, Calif.-based Cetera Advisor Networks, whose parent company Cetera Financial Group added a record $3.6 billion in assets under management in the second quarter.

Cetera’s three latest affiliate practices are led by advisors Nuno Pereira, Jim Lohnes and Brenton Schmidt. Pereira and Lohnes were previously at PlanMember Securities, while Schmidt was previously at LPL Financial.

Managing nearly $340 million in client assets, Pereira is based in Mount Olive, NJ, and specializes in serving multiple generations of unionized workers.

“After carefully evaluating the options for a new affiliation with the firm, I am delighted to join Cetera Advisor Networks,” Pereira, who grew up in a union family, said in a press release. “The impressive platform and the cutting-edge tools and technology offerings will help me serve my customers better in the long run. I look forward to elevating my business and serving my unionized clients more holistically with Cetera’s dedicated support, committed team and valuable resources.

Operating as Lohnes Wealth Management in Bradenton, Fla., Lohnes oversees $120 million for members of telephone and utility unions who are preparing for retirement or have already retired.

Based in Delano, Minnesota, Schmidt manages nearly $100 million in assets and provides financial planning and wealth management services.

“As finance professionals evaluate their affiliation with the firm, we believe Cetera will continue to rise to the top of advisors’ consideration list and attract the best finance professionals in the industry looking for a fresh start. to more effectively serve their customers and increase the value of their business,” John Pierce, Cetera’s business development manager, said in a prepared statement.

Founded in 2010, as of December 31, 2021, Cetera Financial Group said it oversees approximately $353 billion in assets under administration and $122 billion in assets under management.