and his team just landed a key distribution alliance for WisdomTree
| Kurt MacAlpine|
executive vice president, head of global distribution
Effective yesterday, all of WisdomTree's ETFs are now available on Los Angeles-based Cetera Financial Group's
NTF (no transaction fee) platform, confirms
MacAlpine, executive vice president and global head of distribution at the New York City-based, publicly traded asset manager. The agreement covers the entire Cetera broker-dealer network, including: Cetera Advisors
, Cetera Advisor Networks
, Cetera Investment Services
(dba Cetera Financial Institutions), Cetera Financial Specialists
, First Allied Securities
, and Summit Brokerage Services
, head of portfolio solutions at Cetera, puts the deal in the context of the independent B-D networks' "strategic imperative of ensuring a broad offering and providing [Cetera] advisors with an end-to-end Advice Centric experience for this clients." Woelfel was not available for further comment on the deal.
WisdomTree's release confirms that "Cetera receives remuneration from WisdomTree in relation to the ETF program for administrative and other services," but MacAlpine declined to comment on the pricing and terms of the deal.
The deal also involves Cetera-affiliated financial advisors gaining access to WisdomTree's Advisor Solutions
program, which includes ETF education, model portfolios, investment research, portfolio construction services, and practice management efforts. And the deal is the first of its kind for WisdomTree. MacAlpine confirms they're on the hunt for more.
"While WisdomTree ETFs are available on all the major wirehouse platforms, as well as large custodian programs such as TD Ameritrade, Schwab, and E*Trade, Cetera is the first IBD platform that WisdomTree has engaged with in a no transaction fee capacity," MacAlpine tells MFWire
Cetera has nearly 8,000 FAs across its B-Ds, and MacAlpine praises the network as "one of the largest independent broker dealers in the industry with a diverse network of financial advisors."
Stay ahead of the news ... Sign up for our email alerts now