Cetera Financial Group has expanded its Tax and Accounting Channel with the addition of Callero Capital Management, an advisory practice led by cousins Matthew Callero and Christopher Callero. The Chicago-area firm oversees about $265 million in assets under administration and joins Cetera Financial Specialists after a year-long evaluation of potential broker-dealer partners.
Callero Capital Management specializes in comprehensive wealth management and retirement planning for individuals, families, and business owners. The firm operates with a multi-generational team structure that emphasizes consistency in client service and long-term continuity. The advisors noted that their search for a new partner centered on finding a platform capable of supporting organic and inorganic expansion, particularly as they explore growth and succession opportunities in the Midwest.
The Calleros said their longstanding affiliation with Woodbury Financial Services, a broker-dealer under Osaic, had become increasingly challenging due to integration-related issues. They selected Cetera for its operational support, growth infrastructure, and alignment with their long-term plans. The firm expects to pursue local acquisitions over the next several years, with a focus on practices that maintain strong client relationships.
Cetera executives highlighted the fit between the Calleros’ growth trajectory and the firm’s advisor-focused ecosystem. The company, which supports approximately 12,000 independent advisors and institutions, has reported more than $625 billion in assets under administration and $284 billion in assets under management as of September 30, 2025.
KEY QUOTES
“The decision to move has been many months in the making and followed an exhaustive search among independent broker-dealers. We believe that Cetera’s back-office support is vital for a growth-minded advisory firm like ours. We’re honored to partner with Cetera to support our client service model and pursue our firm’s growth goals. Cetera is the premier partner that truly supports our vision for Callero Capital’s future.”
“We’re positioned to welcome additional producing advisors who share our client-first philosophy. With many advisors approaching retirement themselves, local advisors are seeking succession solutions and are reaching out to ensure their clients’ futures. We will be active in pursuing local acquisition opportunities over the next 3 to 5 years. Just as we were uber selective when choosing to partner with Cetera, we will be equally as selective when partnering with advisors on succession – only service-minded practices with a loyal client base will align with our approach. We have the systems and experienced staff in place to help ensure continuity for their clients.”
“Callero Capital Management is built for the decades ahead. We’ve been deliberate in how we structured our firm, bringing together talented professionals across generations. Clients appreciate knowing there’s always a capable, familiar person ready to help them pursue their goals.”
Matthew Callero, President, Callero Capital Management
“Matt and Chris are outstanding additions to the Cetera Financial Specialists community. Their client-first approach and ambitious growth mindset make them an excellent fit for Cetera, and we look forward to offering the resources and support they need as they enter their next phase of growth.”
Andy Watts, Tax & Accounting Channel Leader, Cetera
