Scott Marmo, the founder of the Tennessee-based Marmo Financial Group, has sold his firm to Cetera Financial Group. The transaction brings approximately $300 million in assets under management into Cetera Planning Partners, the company’s employee-advisor RIA, while marking Cetera’s formal entry into the Tennessee market.
Marmo, who previously operated as an independent practitioner, will transition his team of eight to become W-2 employees of Cetera. The shift allows the Johnson City-based firm to offload administrative burdens, including compliance and portfolio management, while gaining access to Cetera’s centralized resources such as in-house estate planning, legal support, and tax services.
Selecting a partner required a months-long evaluation of various suitors. According to Marmo, the decision hinged on cultural alignment rather than purely financial incentives. He noted that the increasing complexity of holistic client service and the rapid evolution of industry technology necessitated a move toward a larger, integrated platform to ensure the long-term protection of his 620 clients.
Jennifer Hanau, president of Cetera’s RIA and branches channel, credited the acquisition to Marmo’s disciplined approach to organic growth. The move integrates Marmo Financial Group into Cetera Planning Partners, an entity formed by the unification of Avantax Planning Partners and The Retirement Planning Group. This acquisition provides a concrete succession solution for the practice, ensuring that the firm’s operations continue under the national umbrella of Cetera.
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