Cetera Acquires Pillar Financial Group

Cetera today announced the addition of Pillar Financial Group, led by seven partners including CEO Luke Madsen and a 34-member advisory team. The Seattle-based firm brings approximately $1.8 billion in assets under administration (AUA) including over $500 million in retirement plan assets and has joined the Cetera Advisors community.

The firm moved to Cetera from Northwestern Mutual Investment Services, LLC.

Pillar Financial Group is a multigenerational, planning-centric, fiduciary firm that creates customized financial plans. The team serves individuals, families, and businesses across their communities and has expanded through both organic growth and acquisitions.

“We wanted a firm we could grow with, and Cetera’s leadership team not only shares our vision but has the scale and focus on technology to support our growth for the long term,” said Madsen. “While many large broker-dealers are navigating mergers and acquisitions, Cetera’s measured approach to growth ensures we’ll receive the personalized attention we need to focus on our clients. For us, that was the deciding factor.”

Cetera Advisor Channel Leader Tom Halloran welcomed Pillar Financial Group, saying: “Luke and his team are deeply principled and client-first. They value independence and want the flexibility of an open architecture, which Cetera provides in contrast to the more restrictive insurance model. We’re eager to support Pillar Financial Group as they expand capabilities and serve a growing base of high-net-worth clients.”

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