Cetera’s The Retirement Planning Group acquires Lee Financial Group Hawaii

The Retirement Planning Group (TRPG), an employee-based Registered Investment Advisor (RIA) under Cetera Holdings, has significantly expanded its wealth management services by acquiring Lee Financial Group Hawaii. With assets under management totaling approximately $225 million as of March 31, 2024, Lee Financial is known for its comprehensive investment management and financial planning services, primarily serving clients in Hawaii and beyond.

Strategic Expansion and Acquisition Details

This acquisition brings six full-time professionals from Lee Financial into the fold of TRPG/Cetera, enhancing TRPG’s capabilities and reach in the financial advisory landscape. Notably, this acquisition, which marks TRPG’s second major deal in 2024, follows closely after its acquisition of Dightman Capital Group, Inc. in February. Since being acquired by Cetera in 2023, TRPG now oversees more than $2 billion in assets, underscoring its rapid growth and strategic expansion in the wealth management sector.

Leadership Comments on the Acquisition

Kevin Conard, CEO of TRPG, expressed his enthusiasm about the new addition to their team, stating, “We are pleased to welcome Terry, his talented team and their clients to TRPG. The Lee Financial team’s commitment to putting clients first aligns with our core values and we look forward to many shared successes to come. For independent advisors looking to spend more time on what matters most to them and their business, TRPG can be a partner of choice to help them get there.”

Terry Lee, President and CEO of Lee Financial, also shared his perspective on joining forces with TRPG: “As we looked to the future for our business, team, and clients, we knew finding the right long-term partner would take time as we were very selective in our search and consideration process,” said Lee. “Kevin, the TRPG team, and Cetera team gave us the utmost confidence and it became clear this choice made sense on many levels for everyone affiliated with Lee Financial. TRPG has welcomed us with open arms and I know that the team and our clients are set up well for long-term success.”

This acquisition represents a well-strategized move by TRPG to strengthen its market presence and service offerings in the competitive wealth management industry. By integrating Lee Financial’s regional expertise and client-centric approach, TRPG is poised to enhance its service delivery and operational capabilities significantly.