Cetera Financial Group has named Todd Mackay president of Cetera Wealth Management, effective January 1.
Mackay, who was named president of Cetera Solutions in August after joining the firm as president of Avantax, the tax-focused wealth management firm acquired by Cetera Holdings late last yearwill continue to report to CEO Mike Durbin.
He will be responsible for Cetera's organic growth strategies across its advisor channels and will continue to develop the firm's products and services, the role held by Tom Taylorwho retires at the end of the year and has been in the industry since the early 1990s.
The firm has also hired Christian Mitchell, an executive vice president and chief digital and information officer at Northwestern Mutual, to assume Mackay's responsibilities. He will join in January and will also report to Durbin.
WealthManagement.com it Was the first to report in January that Cetera had hired Heidrick & Struggles, the executive search and management consulting firm, to conduct a search for a president of Cetera Solutions.
in november, Cetera confirmed that Adam Antoniadeswho has served as CEO of Cetera Financial Group since December 2019, would leave at the end of this year, with Durbin taking over. WealthManagement.com it Was first to report that Antoniades would be leaving the company. Sources said at the time that former Fidelity executive Durbin would take control of the firm following a recapitalization with private equity owner Genstar.
Cetera has grown to approximately 12,000 advisors, more than $545 billion in assets under administration and $235 billion in assets under management as of September 30, 2024.