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Cetera closes asset purchase of Foresters' US broker/dealer, advisory business

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Cetera closes asset purchase of Foresters' US broker/dealer, advisory business

Cetera Financial Group Inc. closed its acquisition of certain assets of Foresters Financial's U.S. broker/dealer and advisory business.

Cetera said the deal brought in an additional 400 advisers and contributed to an increase in its assets under administration to $19.1 billion. It also said the acquisition helped to add more than 1,000 registered representatives.

Financial terms of the deal were not disclosed, although the company said the acquisition is its largest since 2014.