The Retirement Planning Group says aloha to Lee Financial Group Hawaii

Cetera’s employee-based RIA’s second acquisition in 2024 brings six new employees and roughly $225M in AUM.

The Cetera Financial Group has just strengthened its presence in Hawaii as the wealth hub’s employee-based RIA makes its second acquisition for the year.

The Retirement Planning Group has announced its acquisition of Lee Financial Group Hawaii. The deal, which was unveiled on Tuesday, brings an additional $225 million in assets under management to TRPG.

Lee Financial Group, founded and led by Terry Lee, specializes in investment management and financial planning services for clients in Hawaii and beyond.

“We are pleased to welcome Terry, his talented team, and their clients to TRPG,” Kevin Conard, CEO of TRPG, said in a statement. “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.”

Six employees from Lee Financial Group will come under the umbrella of TRPG, whose business spans over $2 billion in assets for more than 2,000 clients.

Lee, who will stay involved as a consultant for TRPG, sees his firm’s integration as a strategic fit.

“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,” he said. “[I]t became clear this choice made sense on many levels for everyone affiliated with Lee Financial,” he said.

TRPG’s RIA integration strategy began in earnest in February when it acquired 100 percent of the assets of the Dightman Capital Group. That strategy is itself part of Cetera’s broader push to expand its share of the RIA market, a master plan that developed after Mike Durbin’s appointment as the firm’s chief executive.

Cetera made another expansionary move in the Aloha State in March when it forged a strategic partnership with Hawaii State Federal Credit Union, the largest credit union in Hawaii, whose investment services program held almost $400 million in assets.