NEW YORK (AP) — MetLife is selling independent broker-dealer affiliates Tower Square Securities and Walnut Street Securities to Cetera Advisor Networks, so that its U.S. retail arm can concentrate more on its core distribution relationships.

Financial terms were not disclosed.

Cetera Advisor Networks is a broker-dealer owned by privately held independent investment adviser Cetera Financial Group.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.