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News

Arete Wealth Closes Acquisition of Center Street Securities

gbafNews28

CHICAGO, March 31, 2021 /PRNewswire/ — Arete Wealth, a nationwide independent broker-dealer, registered investment advisor, and insurance firm, today announced the completion of its previously announced acquisition of Center Street Securities.

Arete Wealth's acquisition of Center Street, a Nashville, Tenn.-based securities broker-dealer and registered investment advisor founded in 1990, was a stock purchase transaction.

“This transaction is an incredible milestone for both of our businesses,” said Arete Wealth Founder and CEO Joshua D. Rogers. “It is a testament to the outstanding teams we have assembled, the rapidly growing businesses we created, and the enviable positions both firms are in. We are incredibly excited about the potential this partnership unlocks for us in the years to come because we believe we can move faster together than apart.”

Mr. Rogers noted that Center Street's strong belief in endowment-style investing for high-net-worth clients is consistent with Arete Wealth's investment philosophy, adding the deal enhances Arete Wealth's industry-leading position as a provider of bespoke alternative investments.

Further, with its concentration on publicly registered offerings for non-accredited investors, Center Street expands and complements Arete Wealth's focus on Regulation D offerings for accredited investors.

Combined with Center Street, Arete Wealth now has a total of $5.7 billion of assets under management, 265 registered representatives, and 100 offices across the United States. The combined firms' 2020 revenue was approximately $60 million.

The companies will strategically combine their entities throughout 2021, and, after an appropriate period of integration, both firms will present under the Arete Wealth, Inc. brand.

“During our talks, it become apparent to me that Center Street was attracted to Arete Wealth because of our firm's deep due diligence in alternative investments, seasoned regulatory compliance team, and advanced technology solutions,” Mr. Rogers said. “When you add our common vision for growth, it quickly became clear that Arete Wealth and Center Street were perfect partners.”

About Arete Wealth
Arete Wealth is a full-service broker-dealer, registered investment advisor and insurance firm. The firm has smartly guided advisors and high-net-worth investors through alternative investment access, investment banking, private equity programs and other traditional financial planning since 2007. Annually, the firm ranks as one of the country's top independent Broker-Dealers across multiple industry surveys*. Headquartered in Chicago, Arete Wealth investments and services are offered through 100 offices and 265 registered advisors nationwide. Find out more at www.aretewealth.com.

*Based on revenue growth as noted in InvestmentNews, Financial Planning, Financial Advisor & WealthManagement.com, 2019 – 2020. Arete Wealth Advisors LLC and Arete Insurance Agency LLC are affiliates of Arete Wealth Management, LLC. Advisory services offered through Arete Wealth Advisors, an SEC registered investment advisor. Securities offered through Arete Wealth Management, LLC, member FINRA, SIPC and NFA.

Arete Wealth:
Nate Moster, Chief Marketing Officer, 312.940.3684
Nate.Moster@AreteWealth.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/arete-wealth-closes-acquisition-of-center-street-securities-301259486.html

SOURCE Arete Wealth

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