Wilde Wealth Management Group, one of the largest offices of supervisory jurisdiction affiliated with Cetera Advisors, with $3.6 billion in assets, has named Drew Kliber to lead its new family office division. Kliber joins from UBS, where he managed $400 million in client assets.
The new W Family Office Division will aim to provide white glove service to clients with $5 million to $10 million in investable assets.
Kliber has almost 30 years of experience in the financial services industry, having started at Smith Barney in 1997. He founded the Rocky Mountain Group in 2000.
This follows news earlier this year that Cetera made a minority investment in Scottsdale, Ariz.-based Wilde Wealth. The firm was founded by CEO and Managing Principal Trevor Wilde, and affiliated with Cetera in 2007. The deal was made as part of Cetera’s suite of succession offerings, which includes advisor-to-advisor support, business continuity and full or partial sale options.
Last summer, Cetera Holdings, the holding company of Cetera Financial Group, announced its first acquisition of a pure RIA, The Retirement Planning Group. That move came less than a month after the company hired former Fidelity Investments senior executive Mike Durbin as its CEO, signaling an intention to move more seriously into the space.
In December, Cetera's private equity owner Genstar Capital reinvested fresh capital into the broker/dealer network from two of its newest funds, Fund XI and Fund X.
Cetera now serves more than 12,000 advisors, representing more than $521 billion in assets under administration and $224 billion in AUM, as of June 30, 2024.
