Cetera has linked up with BOK Financial Corporation to build out its roster of trust services to support clients with their multi-generational family planning needs.

Cetera Financial Group, a network of US independent broker-dealer firms, has linked up with BOK Financial Corporation to build out its roster of trust and fiduciary services to support its advisors' clients with their multi-generational family planning needs.

The initiative is central to the network's overall wealth management strategy and “long range integration plan,” the firm said, adding that it will start by offering these capabilities through Cetera Advisors, Cetera Advisor Networks, Cetera Financial Specialists and Cetera Financial Institutions.

“A more comprehensive and robust wealth management function helps our advisors grow their businesses by adding more value to their clients,” Steve Dunlap, executive vice president of wealth management at Cetera Financial Group, told Family Wealth Report.

“There’s no question that for many of the financial advisors we support, being able to capture the multigenerational wealth management and transfer needs of an aging mass affluent baby boomer demographic is critical,” Dunlap said. “Expanding our capabilities in trust services enables the advisors we support to capture this high growth segment of the wealth management marketplace.” 

“At the same time, we will actively explore how we can potentially add other industry-leading providers to this offering and extend these enhanced trust capabilities to all of the broker-dealer firms in the Cetera network,” he added.

Based in Tulsa, OK, BOK Financial brings to Cetera the service of over 130 trust administrative officers in nine states with $50.4 billion in assets under custody. BOK itself has been ramping up its wealth management business over the past year or so, having made its third related acquisition in 18 months last May (see here).

Cetera Financial Group is the retail investment advice platform of RCS Capital Corporation, serving some 9,700 independent financial professionals and over 500 financial institutions across the US.

RCS is comprised of nine firms – four legacy Cetera-branded firms (Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services - marketed as Cetera Financial Institutions - and Cetera Financial Specialists), along with First Allied Securities, Investors Capital, J P Turner and Company, The Legend Group and Summit Brokerage.

Meanwhile, VSR Financial and Girard Securities will join Cetera Financial Group following the close of their acquisitions by RCS Capital, bringing the total number of firms to 11.