Nestlehut Financial Services, an Illinois-based team overseeing $275m in assets, has joined independent broker-dealer network Cetera.

The team of nine will now affiliate with Cetera Advisors. It was previously affiliated to Securities Service Network.

Headed by Thomas Nestlehut, the team also includes financial advisers Adam Beierle and Michael Kordas, as well as associate staff Margaret Cinotti, Peggy Pienta, Cathy Beck, Emily Myers, Jennifer Justin-Pierson and Candice Purdy.

Thomas Nestlehut noted: “In evaluating the evolution of our firm, opportunities for cost savings and more robust technology for our clients were top considerations.

“Platforms like Cetera’s AdviceWorks create an environment for efficiency in managing our clients’ money and an enhanced digital experience for investors which is key in today’s virtual business environment.”

The Nestlehut team has been providing financial planning services for four decades. It serves around 700 families.

Cetera head of Traditional Channel Brett Harrison said: “The independent and entrepreneurial mindset of the Nestlehut team is a perfect fit to our adviser community.

“Our focus on digitisation driving growth will provide the firm with the tools, technology and custom services they are seeking.”

Cetera offers a range of services such as wealth management solutions, retirement plan solutions, advisory services, practice management support, marketing guidance, regulatory support, and market research, among others.

In 2018, private equity firm Genstar Capital agreed to buy a majority equity stake in Cetera.

At that time, the broker-dealer said that the deal will offer “significant capital” to support investments in various areas including technology, customer experience, operations, data and growth platforms.