Cetera Investment Advisers LLC

• A percentage of assets under your management
• Hourly charges
• Fixed fees (other than subscription fees)

Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ

The brochure lists different fees for different services or strategies. See the firm's brochure (dated August 13, 2026) for its fees and any account minimum, on the SEC's IAPD site.

$256,813,748,739 as of October 2026, filing dated August 13, 2026.

A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means

A firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.

• Financial planning services
• Portfolio management for individuals and/or small businesses
• Portfolio management for businesses (other than small businesses) or institutional clients
• Pension consulting services
• Selection of other advisers (including private fund managers)
• Educational seminars/workshops

Also doing business as

CETERA ADVISOR NETWORKS, CETERA ADVISORS, FIRST ALLIED ADVISORY SERVICES

Registration

SEC-registered investment adviser. Status as filed: Approved.

Registered since

1984 (42 years)

Employees

Total: 10,251. Performing investment advisory functions: 9,049.

Wrap fee program participation

Yes.

Custodians (Schedule D, Section 5.K(3))

211 Main StreetCetera Investment Services LLC · affiliatedNational Financial ServicesOne Pershing Plaza

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

Other offices (Schedule D, Section 1.F)

25 other offices, as of the September 2026 filing

Cleveland, OHConcord, CADallas, TXDaniel Island, SCHonolulu, HIHoover, ALLatham, NYLombard, ILMidlothian, VAMinneapolis, MNMinnetonka, MNMount Arlington, NJNew York, NYNewark, DENewport Beach, CAOmaha, NEOverland Park, KSParsippany, NJPasadena, CAPhoenix, AZSan Diego, CAScottsdale, AZSt. Louis, MOTigard, ORWestbury, NY

States registered or notice-filed

53 states or jurisdictions

AKALARAZCACOCTDCDEFLGAHIIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNENHNJNMNVNYOHOKORPAPRRISCSDTNTXUTVAVIVTWAWIWVWY

SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration

13 Reports 13 disclosure items on Form ADV Item 11. View on IAPD.

Questions answered yes on this filing

Criminal matters Items 11.A and 11.B

• 11.A(1) In the past ten years, has the firm or an advisory affiliate been convicted of, or pleaded guilty or no contest to, a felony?
• 11.B(1) In the past ten years, has the firm or an advisory affiliate been convicted of, or pleaded guilty or no contest to, a misdemeanor involving investments or an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, extortion, or a conspiracy to commit any of these?

Regulatory matters Items 11.C to 11.G

• 11.C(2) Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
• 11.C(4) Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
• 11.C(5) Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?
• 11.D(1) Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?
• 11.D(2) Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
• 11.D(4) In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?
• 11.E(1) Has a self-regulatory organization (such as FINRA) or a commodities exchange ever found that the firm or an advisory affiliate made a false statement or omission?
• 11.E(2) Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?
• 11.E(4) Has a self-regulatory organization or a commodities exchange ever disciplined the firm or an advisory affiliate by expelling or suspending it from membership, barring or suspending it from association with other members, or otherwise restricting its activities?
• 11.G Is the firm or an advisory affiliate now the subject of a regulatory proceeding that could result in a yes answer to any part of 11.C, 11.D, or 11.E?

Civil court matters Item 11.H

• 11.H(1)(a) In the past ten years, has a domestic or foreign court issued an injunction against the firm or an advisory affiliate in connection with investment-related activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. What happened, and who was involved, is on the Disclosure Reporting Pages of the IAPD record. Reading a firm's disclosures

Regulatory assets under management: $28,325,892,693 in the October 2021 data and $256,813,748,739 in the October 2026 data, up 807%.

Total employees: 2,967 in October 2021 and 10,251 in October 2026.

As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.

1. September 2026
   • Updated its list of owners and control persons (Schedule A).
2. May 2026
   • Updated its list of owners and control persons (Schedule A).
3. April 2026
   • Employees performing advisory functions went from 6825 to 9049.
   • Regulatory assets under management went from $163,792,814,520 to $256,813,748,739 (+57%).
   • Changed its office addresses in Latham, NY.
   • Changed its office addresses in Newport Beach, CA.
   • Added an office in Concord, CA.
   • Added an office in Dallas, TX.
   • Added an office in Honolulu, HI.
   • Added an office in Mount Arlington, NJ.
   • Added an office in Westbury, NY.
   • No longer lists an office in Germantown, TN.
   • No longer lists an office in Houston, TX.
   • No longer lists an office in Los Angeles, CA.
   • No longer lists an office in Schaumburg, IL.
   • Updated its list of owners and control persons (Schedule A).
4. December 2025
   • Updated its list of owners and control persons (Schedule A).

Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.